- Investment in Industries Centers offers entry into new markets, opportunities for further expansion
Archer Daniels Midland Company (NYSE: ADM) announced today that it has
reached an agreement to purchase a controlling interest in Industries
Centers, an Israeli company specializing in the import and distribution
of agricultural feed products.
“With this investment, we are continuing to expand and enhance our core
value chain, including our ability to deliver direct to the customer,”
said Joe Taets, president of ADM’s Agricultural Services business unit.
“Industries Centers offers an entry point into a strong, established
Israeli market. We have worked with them in the past to help us import
our own products into Israel, and we know them as an experienced,
Industries Centers, founded in 1993, trades corn byproducts and other
grain products. It has offices in the Tel Aviv area, and operates a
45,000 MT storage facility strategically located at the Port of Ashdod.
The company has a significant and diversified customer base within
Israel. It is privately owned.
“This is a great opportunity for us to reach new customers with a wide
array of products, from soybean meal to grains to feed ingredients,”
Taets continued. “It also represents a further expansion of our
destination marketing capabilities, which remain a strategic priority as
we work to enhance shareholder returns by extending our value chain to
the end customer.”
The transaction is subject to regulatory approval in Israel. ADM
anticipates completing the deal in the coming months.
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
approximately 32,000 employees serving customers in more than 160
countries. With a global value chain that includes approximately 500
crop procurement locations, 250 ingredient manufacturing facilities, 38
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