Archer Daniels Midland Company (NYSE:ADM) today announced that it has
entered into an agreement to acquire the business operations of Fasco
Mills Company, headquartered in Mendota, Illinois. Fasco Mills, founded
in 1934, is a family-owned grain and feed company operating one of the
largest networks of grain elevators and rail shipping terminals in
Illinois. Fasco's thirteen grain elevators will increase ADM's footprint
tributary to the prime farm production areas of northern Illinois. The
grain from these elevators will flow into ADM’s vast domestic and global
processing and marketing network. Matthew Jansen, president of ADM's
Grain Group, said “these elevators allow ADM to offer increased
marketing alternatives to farmers in northern Illinois while securing
the commodity flow for ADM's biofuel, food and feed needs.” Richard
Zimmerman, chairman of Fasco Mills, said “our management team at Fasco
has built significant value into these operations, and we feel that
ADM's diverse resources will further enhance their value to the farmer.”
The parties expect the transaction to close on September 1, 2007.
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 http://www.adm.com.
ADM Media Relations
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