ADM to Expand Grind Capacity, Sweeteners and Starches Capabilities at Turkey and Bulgaria Corn Facilities
December 12 2016 - 8:00AM
Business Wire
- New production to help meet growing
sweetener demand regionally and globally
Archer Daniels Midland Company (NYSE:ADM) announced today that
it will significantly expand overall grind and finishing capacity
for sweeteners and starches at its corn wet mill facilities in
Turkey and Bulgaria.
“We continue to see substantial opportunities for starch-based
ingredients in Europe and Middle East markets, and, with these
expansions, ADM will be well-positioned to meet growing customer
demand across the region,” said Pierre Duprat, president, ADM
Europe, Middle East and Africa. “By increasing production capacity
and expanding our capabilities, we are ensuring that we will be
able to offer our customers an expanded range of sweeteners and
starches as sugar production quotas in the EU expire, and as demand
from food and paper markets in Turkey and the Middle East continues
to grow.”
ADM acquired full ownership of corn wet mills in Adana, Turkey,
and Razgrad, Bulgaria, along with a 50 percent ownership stake in a
corn wet mill in Szabadegyháza, Hungary, in November 2015, and has
worked since then to achieve a smooth integration into the
company’s global corn business. The plants produce a complete range
of starch products, including liquid sweeteners, native and
modified starches, crystalline fructose and dextrose.
In June 2016, ADM also completed the acquisition of a
Casablanca, Morocco-based corn wet mill.
“One of our key strategic goals is to grow shareholder value
through the expansion and diversification of our global corn
footprint,” Duprat added. “Our recent acquisitions in Turkey,
Bulgaria, Hungary and Morocco all represent major steps in meeting
these goals. And we are continuing our efforts to enhance returns
on all fronts: In addition to enhancing production capacity, the
improvements we have made in Turkey and Bulgaria will also improve
operational efficiency at these facilities, increasing our domestic
and overseas sales competitiveness.”
ADM is targeting completion of the projects in the first half of
2018.
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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