ADM to Build Port Terminal in Nueva Palmira, Uruguay
DECATUR, Ill.--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: ADM) announced today the construction of a port terminal at Nueva Palmira, Uruguay, to meet corn, soy, wheat and soybean meal demands in Europe, Asia, Latin America and Africa. Located in the Zona Franca (specialized trading zone), the terminal will be the only facility at Nueva Palmira with the ability to load large, post-Panamax and Capesize vessels.
“ADM continues to invest in South America as we expand the size and reach of our processing and transportation operations in the world’s key agricultural regions,” said Domingo Lastra, president, ADM South America. “As crop production in Paraguay, Bolivia, Uruguay and Brazil continues to increase, this new port terminal will be an integral part of regional export operations and will enhance our ability to connect the South American harvest to homes all over the world.”
ADM’s Nueva Palmira port terminal will have a storage capacity of 180,000 metric tons. It is expected to handle 2.8 million metric tons of goods in its first year of operation, and it will employ approximately 100 people. Construction will begin immediately and should be completed in 22 months.
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.