ADM Acquires Ukrainian Sunseed Crushing Facility
CHICAGO--(BUSINESS WIRE)-- Archer Daniels Midland Company (NYSE: ADM) has completed the acquisition of all outstanding shares in Ilitchevskiy Maslo Extractionniy Zavod joint stock company (IMEZ) from Risoil S.A. IMEZ operates a sunseed crushing facility close to the port of Odessa in the Ukraine. ADM and Risoil became 50/50 shareholders in IMEZ in 2004.
“The IMEZ facility at Illitchevsk complements our global asset base in an important origination location,” said Mark Zenuk, ADM Vice President and Managing Director-Europe and Asia. “We look forward to working with Ukrainian farmers to help meet the changing needs of our food customers due to evolving global demands.”
Ukraine is the second largest producer of sunseed in the world after the Russian Federation with harvests of approximately five million metric tons per year.
Archer Daniels Midland Company (ADM) is the world leader in BioEnergy and has a premier position in the agricultural processing value chain. ADM is one of the world’s largest processors of soybeans, corn, wheat and cocoa. ADM is a leading manufacturer of biodiesel, ethanol, soybean oil and meal, corn sweeteners, flour and other value-added food and feed ingredients. Headquartered in Decatur, Illinois, ADM has over 26,000 employees, more than 240 processing plants and net sales for the fiscal year ended June 30, 2006 of $37 billion. Additional information can be found on ADM’s Web site at www.adm.com/.
ADM Media Relations