ADM Advances Strategy with Completion of Brazilian Sugar Ethanol Sale
May 25 2016 - 3:05PM
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.
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RelationsJackie Andersonmedia@adm.com312-634-8484
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