CHICAGO--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) announced today that it had
completed the sale of its sugarcane ethanol operations in Limeira do
Oeste, in the Brazilian state of Minas Gerais.
“ADM’s Corn business is delivering on its strategy of diversifying our
portfolio and expanding our global footprint, while addressing
underperforming businesses,” said Chris Cuddy, president of ADM’s corn
processing business unit. “Last November, we completed our purchase of
former Eaststarch assets in Europe. Earlier this year, we announced the
purchase of a sweetener facility in Morocco. And now, we’ve completed
the sale of our sugarcane ethanol operations in Brazil, which we
determined were unlikely to meet our long-term returns objectives. We
are continuing to take strategic action to drive results and deliver
healthy returns for our shareholders.”
About ADM in Brazil
ADM is one of the largest agribusiness companies in Brazil. With about
3,300 employees, the company processes soybeans in five facilities and
sunflower at another, and markets the bottled oil brands Concórdia,
Corcovado and Vitaliv. The company also operates the largest biodiesel
plant in Brazil, and more than 40 elevators across the country. ADM is a
joint owner of an export terminal in Barcarena, and has a concession to
operate a terminal at the Port of Santos. ADM is also building a soy
protein production complex next to the company’s existing soybean plant
in Campo Grande, Mato Grosso do Sul.
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
32,300 employees serving customers in more than 160 countries. With a
global value chain that includes 428 crop procurement locations, 280
ingredient manufacturing facilities, 39 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
media@adm.com
312-634-8484