Expansion to advance ADM’s premier position in ag processing value chain
Archer Daniels Midland Company (NYSE: ADM) will increase its North
American oilseed crushing capacity through expansions at oilseed
crushing plants in the U.S. and Canada. Five soybean crushing plants
will be expanded in Quincy, Illinois; Frankfort, Indiana; Mexico,
Missouri; Fremont, Nebraska and Des Moines, Iowa. Two canola crushing
plants will also be expanded in Velva, North Dakota and Lloydminster,
Alberta, Canada.
The expansions will support ADM’s two North American biodiesel
facilities in Mexico, Missouri and Velva, North Dakota.
“Expanding our crush capacity will enable us to meet the increased
demands for vegetable oil and oilseed proteins, driven by the world’s
growing need for energy and food,” stated Scott Fredericksen,
President-North American Oilseed Processing.
Factors driving the increased demand for oilseed crushing include a
growing population which increases the demand for food worldwide, rising
global wealth which is changing protein and oils consumption, and
increasing global energy needs and energy security concerns that promote
biodiesel demand.
The expansions are scheduled to be completed in mid-2008. Construction
on the expansions is dependent on final engineering and permit approval.
About ADM
Archer Daniels Midland Company (ADM) is the world leader in BioEnergy
and has a premier position in the agricultural processing value chain.
ADM is one of the world’s largest processors of soybeans, corn, wheat
and cocoa. ADM is a leading manufacturer of biodiesel, ethanol, soybean
oil and meal, corn sweeteners, flour and other value-added food and feed
ingredients. Headquartered in Decatur, Illinois, ADM has over 26,000
employees, more than 240 processing plants and net sales for the fiscal
year ended June 30, 2006 of $37 billion. Additional information can be
found on ADM’s Web site at www.adm.com/.
ADM Media Relations
217/424-5413
[email protected]