ADM to Acquire Soybean Crushing Facility, Form Partnership for Biodiesel Business in Missouri
DECATUR, Ill.--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) today announces plans to acquire a soybean crushing and biodiesel facility in Deerfield, Mo., from Prairie Pride, Inc. ADM will also form a partnership with Prairie Pride for the biodiesel portion of the business.
“The acquisition of Prairie Pride’s soybean facility and partnership for the biodiesel business were attractive to us because they are aligned with our growth strategy and fit well within our integrated business model,” said Matthew J. Jansen, president, Global Oilseeds. “We look forward to working with the 1,000 farmers of Prairie Pride to transform soybeans into food, feed and fuel products used by consumers and businesses around the world every day. And we look forward to becoming a part of the Vernon County community.”
About Prairie Pride
Prairie Pride, Inc. is a new-generation producer cooperative formed to convert soybeans into biodiesel fuel and soy meal. The facility began producing biodiesel in late 2007 and processing soybeans in August 2008.
Every day, the 29,000 people of Archer Daniels Midland Company (NYSE: ADM) turn crops into renewable products that meet the demands of a growing world. At more than 240 processing plants, we convert corn, oilseeds, wheat and cocoa into products for food, animal feed, chemical and energy uses. We operate the world’s premier crop origination and transportation network, connecting crops and markets in more than 60 countries. Our global headquarters is in Decatur, Illinois, and our net sales for the fiscal year ended June 30, 2010, were $62 billion. For more information about our company and our products, visit www.adm.com.
Archer Daniels Midland Company
ADM Media Relations, 217-424-5413