ADM Announces Major Expansion of Argentinian Export Facilities
CHICAGO--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) announced today that it is investing in substantial improvements and expansions to its port facilities in Puerto San Martin in the Argentine state of Santa Fe, enhancing the company’s capability to export grain and other agricultural products from the region. The improvements, which will include the construction of a new berth for barge discharge and the addition of storage capacity, are expected to be complete by early 2016.
“From acquiring full ownership of our Black Sea terminals, to quadrupling the capacity at our port in northern Brazil, to this enhancement of our capabilities in Argentina, we are executing on our plan to diversify and expand our trade and origination territory,” said Joe Taets, president of ADM’s Agricultural Services business unit.
The current export facilities in Puerto San Martin have an annual throughput of approximately 2 million metric tons. The improvements will increase annual capacity by 25 percent, to 2.5 million tons, allowing ADM to reduce its reliance on third-party facilities, which today are limiting the company’s ability to export increasing volumes from Paraguay. The expansion also will allow ADM to move a higher volume of products through its seamless, fully-owned network, helping the company to deliver on its goal of providing customers with an identity-preserved supply chain from origination to processing.
“The improved Puerto San Martin facility, along with our export elevator just downriver in Arroyo Seco and our deep water port at Bahia Blanca, will have a total annual throughput capacity of 7.5 million tons, giving us the ability to take full advantage of expanding agricultural production in Paraguay and Argentina,” continued Taets.
The Argentina expansion comes on the heels of ADM’s announcement earlier this month that it is acquiring complete ownership of North Star Shipping and Minmetal, enhancing the company’s European origination and transportation network through the addition of export facilities at the Romanian Port of Constanta on the Black Sea. And in February, ADM reached an agreement to sell to Glencore plc a 50 percent stake in its export terminal in Barcarena, in the northern Brazilian state of Pará, and to quadruple the terminal’s capacity from 1.5 million metric tons to 6 million metric tons.
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 33,000 employees serving customers in more than 140 countries. With a global value chain that includes more than 460 crop procurement locations, 300 ingredient manufacturing facilities, 40 innovation centers and the world’s premier crop transportation network, we connect the harvest to the home, making products for food, animal feed, chemical and energy uses. Learn more at www.adm.com.
Archer Daniels Midland Company
Jackie Anderson, 312-634-8484