Company is increasing storage capacity to accommodate farmers’ production increases
DECATUR, Ill.--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) today announced that it will expand three grain facilities in northeast Missouri and western Illinois. ADM elevators in Novelty and Center, Mo., will triple their storage capacity, while a barge loading terminal in Quincy, Ill., will add grain storage and improve receiving efficiencies. These projects will accommodate regional farmers’ increased production by expanding the combined storage capacity of the facilities by nearly 1.7 million bushels, enhancing corn drying capabilities and reducing truck unloading times.
“To accommodate farmers’ increased production and to advance our company’s growth strategy, we are expanding our elevators to increase our storage capacity and better meet the needs of local growers,” said Joe Taets, president, ADM Grain.
In addition to these expanded facilities, ADM also brings expertise in local and global agricultural markets to farmers in the area. At each ADM grain facility, growers will find knowledgeable merchandisers and creative contract alternatives to help them market their crops in the most effective and profitable way. Online services through e-ADM.com deliver up-to-the-minute market news and analysis to assist farmers in making the best decisions possible. ADM’s knowledge combined with creative products and services help farmers make the most of their business to ensure farming remains a viable way of life for future generations.
Construction at these facilities will begin this spring once permitting is in place, and should be completed in time for the 2011 fall harvest.
Crops received at these expanded facilities will help supply ADM’s soybean processing operations in Quincy, Ill., and Mexico, Mo., as well as ADM’s barge loading terminals in St. Louis, Mo., and Quincy, Ill. In the United States, ADM operates 191 elevators with an aggregate storage capacity of more than 420 million bushels. To learn more about the services ADM offers growers, visit www.e-adm.com/farmerview.
Every day, the 29,000 people of Archer Daniels Midland Company (NYSE: ADM) turn crops into renewable products that meet the demands of a growing world. At more than 240 processing plants, we convert corn, oilseeds, wheat and cocoa into products for food, animal feed, chemical and energy uses. We operate the world’s premier crop origination and transportation network, connecting crops and markets in more than 60 countries. Our global headquarters is in Decatur, Illinois, and our net sales for the fiscal year ended June 30, 2010, were $62 billion. For more information about our company and our products, visit www.adm.com.
Archer Daniels Midland Company
ADM Media Relations, 217-424-5413