Archer Daniels Midland Company (NYSE: ADM) today announced that it has
selected Cedar Rapids, Iowa as the second location for its ethanol
capacity expansion. The Company will build a dry corn milling plant with
an initial annual capacity of 275 million gallons adjacent to the
existing corn processing plant.
“ADM is significantly expanding its domestic ethanol production with new
dry mills in Cedar Rapids, Iowa and Columbus, Nebraska,” stated Edward
A. Harjehausen, ADM Senior Vice President-Corn Milling and BioProducts.
“Biofuels are an important part of America’s current and future energy
mix, and we believe it is important to invest in expanded ethanol
production to meet growing demand.”
The addition of these new plants in Cedar Rapids and Columbus, combined
with additional spending for related transportation assets, is further
evidence of ADM’s commitment to investing in the production and
distribution of biofuels in the United States.
This 275 million gallon expansion plus the previously announced 275
million gallon expansion in Columbus, Nebraska is a 550 million gallon
capacity expansion for ADM. Construction on the Cedar Rapids expansion,
expected to be complete in the second half of 2008, is subject to
applicable governmental approvals
Archer Daniels Midland Company (ADM) is a world leader in agricultural
processing and fermentation technology. ADM is one of the world’s
largest processors of soybeans, corn, wheat and cocoa. ADM is also a
leader in the production of soybean oil and meal, ethanol, corn
sweeteners and flour. In addition, ADM produces value-added food and
feed ingredients. Headquartered in Decatur, Illinois, ADM has over
25,000 employees, more than 250 processing plants and net sales for the
fiscal year ended June 30, 2005 of $35.9 billion. Additional information
can be found on ADM’s Web site at www.adm.com.
ADM Media Relations