邦格（Bunge）的2.5亿美元竞争力计划

Bunge Limited (NYSE: BG) today announced a comprehensive global Competitiveness Program to improve its cost position and deliver increased value to shareholders. The program, which has been discussed over the past several quarters, will rationalize Bunge’s cost structure and reengineer the way it operates, reducing overhead costs by approximately $250 million once fully implemented. These savings are in addition to the savings generated through the company’s existing industrial productivity program. The company will achieve these cost savings by aggressively adopting a zero-based budgeting process that will target costs in specific budget categories, simplifying its organizational structure, streamlining processes and consolidating back office functions globally to improve efficiency and scalability. In addition, the company will be reducing its 2018 total capex spend from a previously announced $750 million to $650 million.

Bunge的首席执行官Soren Schroder表示：“我们拥有独特的，不可替代的占地面积和强大的客户群，依靠我们在所有市场条件下都依靠价格竞争价格，高质量的产品。需求和利润率趋势是积极的，竞争力计划是重新设计我们的组织和成本结构的转型下一步，这将推动我们的增长议程并为我们的股东创造巨大的价值。”

The company expects the Competitiveness Program to provide modest benefits to 2017 earnings. Approximately $100 million of the savings are anticipated to be realized in 2018 and $180 million in 2019. Full run rate cost savings of $250 million are expected to be achieved by the end of 2019. The company expects total non-recurring charges associated with the program to be 0.8-1.2x of targeted savings, most of which are expected to be cash charges spread over the next two and half years.

邦格首席财务官托马斯·博勒特（Thomas Boehlert）表示：“我们在2017年初开始了该计划，现在正在开始实施。我相信这些步骤将提高我们的竞争力，并随着市场状况的改善而定位。”

Today, the company also announced that it expects second quarter 2017 adjusted earnings to be modestly profitable, but below the low end of the range of analyst estimates, primarily driven by challenging global Agribusiness market conditions.

“Market conditions during the second quarter were challenging, driven by unprecedented farmer retention in South America, which pressured margins throughout the chain,” added Schroder. “Increased farmer pricing early in July, as well as more dynamic markets and continued strong demand, lead us to expect much improved Agribusiness conditions in the second half of the year.”

Bunge will hold a conference call at 11:00 a.m. EDT on Thursday, July 20, 2017 to discuss the Competitiveness Program; a slide presentation to accompany the call will be posted onwww.bunge.com。

电话会议和网络广播详细信息
To listen to the call, please dial (877) 883-0383. If you are located outside the United States or Canada, dial (412) 902-6506. Please dial in five to 10 minutes before the scheduled start time. When prompted, enter confirmation code 2794944. The call will also be webcast live atwww.bunge.com。

访问网络直播,去“网络广播和礼物ations” in the “Investors” section of the company’s website. Select “Competitiveness Program Conference Call” and follow the prompts. Please go to the website at least 15 minutes prior to the call to register and download any necessary audio software.

该电话的重播将于2017年7月20日晚些时候持续到2017年8月20日。要收听，请在美国拨打（877）344-7529，（855）669-9658 IN加拿大或（412）317-0088在其他位置。提示时，请输入确认代码10110865。在公司网站的“投资者”部分的“网络广播和演示”中，还将在“过去的事件”中获得一个重播。

Website Information
We routinely post important information for investors on our website,www.bunge.com，在“投资者”部分。我们可以将本网站用作披露材料，非公开信息的一种手段，并遵守法规中规定的披露义务。因此，除了遵循我们的新闻稿，SEC文件，公开电话会议，演示文稿和网络广播外，投资者还应监视我们网站的投资者部分。我们的网站没有通过引用并不属于本文档的一部分。

关于Bunge Limited
Bunge Limited (www.bunge.com，纽约证券交易所：BG）是一家在40多个国家的全球农业综合企业和食品公司，约有32,000名员工。Bunge购买，出售，商店和运输油料种子和谷物，为全球客户提供服务；为商业客户和消费者提供油料种子为动物饲料和食用油产品制作蛋白质餐；从甘蔗产生糖和乙醇；米尔斯小麦，玉米和大米制造食品公司使用的食材；并在南美出售肥料。该公司成立于1818年，总部位于纽约的怀特普莱恩斯。

关于前瞻性陈述的警告声明
本新闻稿包含历史和佛rward-looking statements. All statements, other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are not based on historical facts, but rather reflect our current expectations and projections about our future results, performance, prospects and opportunities. We have tried to identify these forward-looking statements by using words including “may,” “will,” “should,” “could,” “expect,” “anticipate,” “believe,” “plan,” “intend,” “estimate,” “continue” and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. The following important factors, among others, could affect our business and financial performance: industry conditions, including fluctuations in supply, demand and prices for agricultural commodities and other raw materials and products used in our business; fluctuations in energy and freight costs and competitive developments in our industries; the effects of weather conditions and the outbreak of crop and animal disease on our business; global and regional agricultural, economic, financial and commodities market, political, social and health conditions; the outcome of pending regulatory and legal proceedings; our ability to complete, integrate and benefit from acquisitions, dispositions, joint ventures and strategic alliances; our ability to achieve the efficiencies, savings and other benefits anticipated from our cost reduction, margin improvement and other business optimization initiatives; changes in government policies, laws and regulations affecting our business, including agricultural and trade policies, tax regulations and biofuels legislation; and other factors affecting our business generally. The forward-looking statements included in this release are made only as of the date of this release, and except as otherwise required by federal securities law, we do not have any obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.