ADM Further Expands Global Sweetener Footprint With Purchase of Moroccan Processing Facility
February 08 2016 - 8:51AM
Business Wire
- Addition follows on 2015 sweetener
expansion in Eastern Europe, represents continued execution of plan
to grow global capabilities
Archer Daniels Midland Company (NYSE: ADM) today announced that
it has agreed to acquire from Tate & Lyle (LON: TATE.L) a
Casablanca, Morocco-based corn wet mill that produces glucose and
native starch.
“The Morocco plant, which serves both global and regional
customers in the food, feed, paper and corrugated board industries,
is a great addition to our global sweeteners and starches
footprint,” said Chris Cuddy, president of ADM’s Corn Processing
business unit. “The facility is the leading sweetener and starch
supplier in a country that should see substantial demand growth in
the coming years. It is well-positioned to serve Moroccan customers
as well as Mediterranean export markets. This also represents an
opportunity to help introduce a wider range of ADM food and feed
ingredients to the Moroccan market.”
The acquisition is subject to regulatory approval. ADM targets
closing during the first half of 2016.
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 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.
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Archer Daniels Midland CompanyMedia
RelationsJackie Anderson, 312-634-8484media@adm.com
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