CHICAGO--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) today announced that it has
completed the sale of its South American fertilizer business to The
Mosaic Company (NYSE: MOS).
“The completion of this sale is an important part of our ongoing
portfolio management,” said ADM Chairman and CEO Patricia A. Woertz. “By
selling our blending assets in Brazil and Paraguay, we are improving our
returns and creating shareholder value. At the same time, we look
forward to continuing to partner with growers in that important region
through our grain origination and fertilizer distribution network.”
The transaction consists primarily of five ADM-owned blending facilities
in Brazil and Paraguay. The Mosaic Company paid US$350 million for the
assets; that purchase price included $150 million in working capital. As
part of the transaction, ADM will purchase fertilizer from Mosaic and
will continue to supply certain fertilizer customers in Brazil and
Paraguay.
About ADM
For more than a century, the people of Archer Daniels Midland Company
(NYSE: ADM) have transformed crops into products that serve the vital
needs of a growing world. Today, we’re one of the world’s largest
agricultural processors and food ingredient providers, with more than
33,000 employees serving customers in more than 140 countries. With a
global value chain that includes more than 470 crop procurement
locations, 285 ingredient manufacturing facilities, 40 innovation
centers and the world’s premier crop transportation network, we connect
the harvest to the home, making products for food, animal feed, chemical
and energy uses. Learn more at www.adm.com.
Archer Daniels Midland Company
Media Relations
Jackie Anderson
217-424-5413
media@adm.com