That growth strategy is reflected in our Oilseeds business unit 2011 performance: record operating profits of $1.5 billion―up 9 percent over 2010―on strengths in our origination and crushing, and our refining, packaging and biodiesel businesses. Looking ahead, expanding sourcing, processing and export capabilities in South America will be key; we are constructing a major soybean crushing facility adjacent to our newly operational fertilizer plant in Villeta, Paraguay; a biodiesel plant in Joaçaba, Brazil; and a port terminal in Nueva Palmira, Uruguay. We are also investing in sustainable palm production and processing in Pará, Brazil.
In Western Europe, we are enhancing the flexibility of our oilseeds processing plants, enabling them to handle multiple raw materials to optimize processing margins. In the increasingly important growing region of Eastern Europe, we are expanding sourcing and processing capabilities: partnering to build a new grain warehouse on Poland’s Baltic coast and acquiring, at the Elbe River in Riesa, Germany, an elevator that allows us to load trucks, trains and barges.
In North America, we advanced our strategy by acquiring a soybean crushing and biodiesel facility in Deerfield, Missouri, and by doubling canola seed receiving and storage capacity at our Lloydminster, Alberta, processing plant. We also acquired full ownership of the Golden Peanut Company, LLC, and a grain storage facility in Estill, South Carolina.