ADM and Millennium Ethanol Announce Marketing Agreement
CHICAGO--(BUSINESS WIRE)-- Archer Daniels Midland Company (NYSE: ADM) and Millennium Ethanol LLC are pleased to announce the formation of an ethanol marketing agreement. As part of this marketing agreement, ADM will market all ethanol produced by Millennium Ethanol at its forthcoming 100 million gallon Marion, South Dakota facility.
“We’re pleased to partner with Millennium Ethanol to help meet the growing demand for ethanol in the United States,” stated Martin Lyons, division Senior Vice President-Ethanol Sales & Marketing. “Ethanol can help meet our nation’s energy needs, increase demand for the harvest and improve our environment.”
“We are excited to have the opportunity to work with ADM, the industry leader in ethanol production and marketing. The market access and penetration that ADM brings to the table will be invaluable to the success of Millennium Ethanol,” stated Steven Domm, CEO, Millennium Ethanol. “We look forward to a successful long-term relationship and are awaiting the construction of our facility.”
Millennium Ethanol LLC is owned by 914 South Dakota investors, including farmers and business people from across the state. The plant will have a design capacity to produce 100 million gallons of ethanol and 320,000 tons of dried distillers grains per year.
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