Firm to close Montreal office

"While the new commercial team includes employees from both companies, TRT-ETGO will be closing its trading office in Montreal and relocating a few employees to Becancour or the joint venture's office in Oakville, Ontario," he said. However, financial terms of the transaction were not disclosed. A news wire reported last Tuesday that Felda, the state-run plantation operator, is discussing a strategic alliance with five global trading houses, including Bunge, Archer Daniels Midlands Co and Cargill Ltd. Quoting sources, the report said the strategic tie-up, likely to be in February, is expected to shore up investor interest ahead of Felda's US$2 billion (RM6 billion) listing of agribusiness arm Felda Global by mid-2012, turning it into a trading powerhouse dealing in palm oil and rubber. Felda, which accounts for 8 per cent of global palm oil output, is keen to tap that growing interest as it seeks to widen market access and monetise its assets.