ADM Announces Major Expansion of Argentinian Export Facilities
May 21 2015 - 12:40PM
Business Wire
- Improvements will increase volume and
efficiency of export operations
- Latest in series of upgrades and
enhancements to ADM’s global network of port facilities
Archer Daniels Midland Company (NYSE: ADM) announced today that
it is investing in substantial improvements and expansions to its
port facilities in Puerto San Martin in the Argentine state of
Santa Fe, enhancing the company’s capability to export grain and
other agricultural products from the region. The improvements,
which will include the construction of a new berth for barge
discharge and the addition of storage capacity, are expected to be
complete by early 2016.
“From acquiring full ownership of our Black Sea terminals, to
quadrupling the capacity at our port in northern Brazil, to this
enhancement of our capabilities in Argentina, we are executing on
our plan to diversify and expand our trade and origination
territory,” said Joe Taets, president of ADM’s Agricultural
Services business unit.
The current export facilities in Puerto San Martin have an
annual throughput of approximately 2 million metric tons. The
improvements will increase annual capacity by 25 percent, to 2.5
million tons, allowing ADM to reduce its reliance on third-party
facilities, which today are limiting the company’s ability to
export increasing volumes from Paraguay. The expansion also will
allow ADM to move a higher volume of products through its seamless,
fully-owned network, helping the company to deliver on its goal of
providing customers with an identity-preserved supply chain from
origination to processing.
“The improved Puerto San Martin facility, along with our export
elevator just downriver in Arroyo Seco and our deep water port at
Bahia Blanca, will have a total annual throughput capacity of 7.5
million tons, giving us the ability to take full advantage of
expanding agricultural production in Paraguay and Argentina,”
continued Taets.
The Argentina expansion comes on the heels of ADM’s announcement
earlier this month that it is acquiring complete ownership of North
Star Shipping and Minmetal, enhancing the company’s European
origination and transportation network through the addition of
export facilities at the Romanian Port of Constanta on the Black
Sea. And in February, ADM reached an agreement to sell to Glencore
plc a 50 percent stake in its export terminal in Barcarena, in the
northern Brazilian state of Pará, and to quadruple the terminal’s
capacity from 1.5 million metric tons to 6 million metric tons.
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, chemical and energy uses. Learn
more at www.adm.com.
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Archer Daniels Midland CompanyMedia
RelationsJackie Anderson, 312-634-8484media@adm.com
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