Archer Daniels Midland Company (NYSE: ADM) today announced that
International Malting Company (IMC) is now a wholly-owned subsidiary of
ADM, after ADM completed the purchase of Lesaffre’s 50% interest in IMC.
ADM and Lesaffre Yeast Corporation will continue their cooperation in
the Red Star Yeast Company joint venture.
IMC was originally created as a joint venture in 1998 by ADM and
Lesaffre. Today it has grown to become one of the world’s largest
suppliers of quality malt to the brewing, distilling and food
industries. IMC operates malt plants in Australia, Canada, New Zealand
and the United States.
“ADM looks forward to making the transition as seamless as possible for
both its customers and employees,” said Steven Furcich, President of
IMC. “Going forward, customers can continue to expect the same high
level of quality, service and innovation from IMC.”
“Lesaffre's malt business has been an important part of our family and
company tradition,” added Patrick Lesaffre, Member and Vice Chairman of
Lesaffre's Supervisory Board. “I am confident that ADM will maintain the
quality and service that IMC is known for, and continue its close
association with the brewing industry around the world.”
Lesaffre, headquartered in Lille, France, is a world leader in the
production and sale of baker’s yeast and other yeast products. The
company is privately owned. Additional information can be found on their
Web site at www.lesaffre.com/.
About ADM
Archer Daniels Midland Company (ADM) is a world leader in agricultural
processing and fermentation technology. ADM is one of the world’s
largest processors of soybeans, corn, wheat and cocoa. ADM is also a
leader in the production of soybean oil and meal, ethanol, corn
sweeteners and flour. In addition, ADM produces 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 $36.6 billion. Additional information
can be found on ADM’s Web site at www.adm.com.
ADM Media Relations
217/424-5413
media@adm.com