ADM Acquires Assets Of Groupe Lysac Inc.
CHICAGO--(BUSINESS WIRE)-- Archer Daniels Midland Company (NYSE: ADM) has acquired substantially all of the assets of Groupe Lysac, Inc. (Lysac). This includes a portfolio of intellectual property and technological assets to create biodegradable products from natural and renewable resources. The Company will incorporate Lysac’s assets into ADM to develop bio-based products.
“Bio-based absorbent polymers are cost effective, and they can be used in conjunction with traditional absorbents to extend or partially replace the petroleum-based product,” stated G. Allen Andreas, ADM Chairman, Chief Executive and President. “ADM is committed to using bio-based resources to manufacture products, like PHAs and now absorbent polymers, that are traditionally made from petroleum.”
Lysac’s absorbent polymers, called Safe and Natural Absorbent Polymers (SNAPs), are made primarily from starch and can be used in new generations of industrial applications and consumer products, like disposable diapers.
In March, ADM announced that it would build the first commercial plant to produce PHA biodegradable plastics in Clinton, Iowa. PHA biodegradable plastics have a wide variety of applications in products currently made from petrochemical plastics, including coated paper, film and molded goods.
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