ADM Completes Sale of South American Fertilizer Business
CHICAGO--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) today announced that it has completed the sale of its South American fertilizer business to The Mosaic Company (NYSE: MOS).
“The completion of this sale is an important part of our ongoing portfolio management,” said ADM Chairman and CEO Patricia A. Woertz. “By selling our blending assets in Brazil and Paraguay, we are improving our returns and creating shareholder value. At the same time, we look forward to continuing to partner with growers in that important region through our grain origination and fertilizer distribution network.”
The transaction consists primarily of five ADM-owned blending facilities in Brazil and Paraguay. The Mosaic Company paid US$350 million for the assets; that purchase price included $150 million in working capital. As part of the transaction, ADM will purchase fertilizer from Mosaic and will continue to supply certain fertilizer customers in Brazil and Paraguay.
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 470 crop procurement locations, 285 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