GMG Global Halts Rubber Output in Ivory Coast as Borders Close

GMG Global Ltd. (GGL) of Singapore halted operations at its rubber plantation and production plant in Ivory Coast after the closure of the country’s borders by forces loyal to President-elect Alassane Ouattara, the company said.

The company, which owns a majority stake in Tropical Rubber Cote d’Ivoire, has been “unable to export its products, effective from the weekend, due to closure of the port in Abidjan,” said Chief Executive Officer Xian Ming in a statement published on the company’s website.

TRCI’s plantation and factory had continued operations amid a political crisis in the country following a disputed Nov. 28 election. The company is the second-largest buyer of rubber from small farmers in Ivory Coast, Africa’s top exporter of the commodity, and operates a factory capable of processing up to 36,000 metric tons annually, according to its website.

GMG’s operations account for 12 percent of Ivory Coast’s annual rubber exports, the company said.

(Source: http://www.bloomberg.com/news/2011-04-04/gmg-global-halts-rubber-output-in-ivory-coast-as-borders-close.html)