- Addition follows on 2015 sweetener expansion in Eastern Europe, represents continued execution of plan to grow global capabilities
CHICAGO--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) today announced that it has
agreed to acquire from Tate & Lyle (LON: TATE.L) a Casablanca,
Morocco-based corn wet mill that produces glucose and native starch.
“The Morocco plant, which serves both global and regional customers in
the food, feed, paper and corrugated board industries, is a great
addition to our global sweeteners and starches footprint,” said Chris
Cuddy, president of ADM’s Corn Processing business unit. “The facility
is the leading sweetener and starch supplier in a country that should
see substantial demand growth in the coming years. It is well-positioned
to serve Moroccan customers as well as Mediterranean export markets.
This also represents an opportunity to help introduce a wider range of
ADM food and feed ingredients to the Moroccan market.”
The acquisition is subject to regulatory approval. ADM targets closing
during the first half of 2016.
Some of the above statements constitute forward-looking statements.
ADM’s filings with the SEC provide detailed information on such
statements and risks, and should be consulted along with this release.
To the extent permitted under applicable law, ADM assumes no obligation
to update any forward-looking statements.
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.
Archer Daniels Midland Company
Jackie Anderson, 312-634-8484