ADM to Increase North American Oilseed Crushing Operations
CHICAGO--(BUSINESS WIRE)-- Archer Daniels Midland Company (NYSE: ADM) will increase its North American oilseed crushing capacity through expansions at oilseed crushing plants in the U.S. and Canada. Five soybean crushing plants will be expanded in Quincy, Illinois; Frankfort, Indiana; Mexico, Missouri; Fremont, Nebraska and Des Moines, Iowa. Two canola crushing plants will also be expanded in Velva, North Dakota and Lloydminster, Alberta, Canada.
The expansions will support ADM’s two North American biodiesel facilities in Mexico, Missouri and Velva, North Dakota.
“Expanding our crush capacity will enable us to meet the increased demands for vegetable oil and oilseed proteins, driven by the world’s growing need for energy and food,” stated Scott Fredericksen, President-North American Oilseed Processing.
Factors driving the increased demand for oilseed crushing include a growing population which increases the demand for food worldwide, rising global wealth which is changing protein and oils consumption, and increasing global energy needs and energy security concerns that promote biodiesel demand.
The expansions are scheduled to be completed in mid-2008. Construction on the expansions is dependent on final engineering and permit approval.
Archer Daniels Midland Company (ADM) is the world leader in BioEnergy and has a premier position in the agricultural processing value chain. ADM is one of the world’s largest processors of soybeans, corn, wheat and cocoa. ADM is a leading manufacturer of biodiesel, ethanol, soybean oil and meal, corn sweeteners, flour and other value-added food and feed ingredients. Headquartered in Decatur, Illinois, ADM has over 26,000 employees, more than 240 processing plants and net sales for the fiscal year ended June 30, 2006 of $37 billion. Additional information can be found on ADM’s Web site at www.adm.com/.
ADM Media Relations