CHICAGO--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) today announced that it has
completed the purchase of certain assets of Eaststarch C.V., ADM’s 50-50
joint venture with Tate & Lyle (LSE: TATE).
“This acquisition is an important expansion for ADM’s Corn business,”
said Chris Cuddy, president of ADM’s Corn Processing business unit. “In
order to continue to diversify our global footprint, our team has done a
great job pursuing opportunities for profitable growth in key demand
regions. We continue to enhance our capabilities to serve customers
around the world, and to create value for our shareholders.”
ADM is now the owner of corn wet mills in Bulgaria and Turkey, and owns
a 50 percent stake in a wet mill in Hungary. The Bulgaria, Turkey and
Hungary facilities have a combined daily grind capacity of approximately
200,000 bushels. They produce primarily sweeteners and starches; the
Hungary facility also produces ethanol for beverage, industrial and fuel
uses.
Forward-Looking Statements
Some of the above statements constitute forward-looking statements.
ADM’s filings with the SEC provide detailed information on such
statements and risks, and should be consulted along with this release.
To the extent permitted under applicable law, ADM assumes no obligation
to update any forward-looking statements.
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 460 crop procurement
locations, 300 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,
industrial and energy uses. Learn more at www.adm.com.
Archer Daniels Midland Company
Media Relations
Jackie Anderson, 312-634-8484
media@adm.com