- French facility well-positioned to serve key markets in Western Europe
CHICAGO--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) announced today that it has
been granted exclusivity in relation to the proposed purchase of
Chamtor, a French producer of wheat-based sweeteners and starches.
“After adding to our sweetener and starch capabilities in Eastern
Europe, we are continuing to execute our strategy by expanding in
Western Europe,” said Pierre Duprat, president, ADM Europe, Middle East
and Africa. “Seventy percent of the European starch and derivatives
market is in Western Europe. Chamtor is located in the heart of the
European wheat belt, and is perfectly positioned to efficiently serve
Western European sweetener and starch customers, particularly in France,
Germany, Belgium and the Netherlands.”
Chamtor, founded in 1992, produces glucose, starch and proteins from
wheat. The company, which is currently owned by Vivescia Industries, is
located in Reims, France, and has about 210 employees.
In 2015, ADM purchased full ownership of corn wet mills in Bulgaria and
Turkey, and a 50 percent stake in a wet mill in Hungary. Last year, the
company acquired a sweetener and starch facility in Morocco, and
announced expansion plans for the Turkey and Bulgaria plants.
“One of the key elements of our strategy to grow shareholder value is
the expansion and diversification of our global sweetener and starch
capabilities,” said Chris Cuddy, president of ADM’s Corn Processing
business. “With our significant and growing footprint, we are looking
forward to efficiently serving sweetener and starch customers throughout
Europe.”
Under French law, the signing of an acquisition agreement is contingent
upon informing and consulting with relevant employee representative
bodies. Subject to that process, ADM is targeting completion of the
sale, which requires regulatory approvals, by this summer.
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
approximately 32,000 employees serving customers in more than 160
countries. With a global value chain that includes approximately 500
crop procurement locations, 250 ingredient manufacturing facilities, 38
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