ADM and PYCO Industries to Launch Cottonseed Processing Joint Venture in Texas

CHICAGO and LUBBOCK, Texas — ADM (NYSE: ADM), a global leader in innovative solutions from nature, and PYCO Industries, Inc., a leader in the local agricultural communities it serves, announced today that they have signed an agreement to launch a joint venture combining their Lubbock, Texas, cottonseed processing capabilities.

The new joint venture will be majority-owned by PYCO and governed by a 6-member board with equal representation from ADM and PYCO. ADM and PYCO will each contribute their Lubbock-based processing facilities to the new company.

"ADM is continuing to deliver on opportunities for strategic simplification across its global footprint," said John Grossmann, president of ADM's North American Ag Services and Oilseeds business. "Bringing together these two cottonseed processing operations in Lubbock will allow us to continue to serve customer needs while offering opportunities for enhanced operational efficiencies."

"PYCO is actively pursuing strategies to enhance our competitiveness for our members, while ensuring our customers have consistent access to the products critical to their business," said PYCO president Robert Lacy. "This joint venture will help to drive a stable, sustainable foundation for our Lubbock business for our owners and downstream customers alike."

The companies intend to complete the transaction and formally launch the joint venture in the third quarter of 2025. 

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About ADM
ADM unlocks the power of nature to enrich the quality of life. We're an essential global agricultural supply chain manager and processor, providing food security by connecting local needs with global capabilities. We're a premier human and animal nutrition provider, offering one of the industry's broadest portfolios of ingredients and solutions from nature. We're a trailblazer in health and well-being, with an industry-leading range of products for consumers looking for new ways to live healthier lives. We're a cutting-edge innovator, guiding the way to a future of new bio-based consumer and industrial solutions. And we're leading in business-driven sustainability efforts that support a strong agricultural sector, resilient supply chains, and a vast and growing bioeconomy. Around the globe, our expertise and innovation are meeting critical needs from harvest to home. Learn more at www.adm.com.

About PYCO Industries, Inc.
PYCO Industries, Inc. is a federated cooperative with locations in Lubbock, Sweetwater, and Waco, Texas. Owned by cotton gins throughout Texas, PYCO is dedicated to maximizing the value of each ton of cottonseed for its member-owners.

Our commitment to producing high-quality products and delivering exceptional service has made PYCO a leader in the industry. We proudly support our communities, fellow cooperatives, and the cotton industry as a whole.

Forward-Looking Statements Regarding ADM
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.

Media Contacts

ADM
Jackie Anderson
media@adm.com  
312-634-8484

PYCO Industries
Robert Lacy
rlacy@pycoindustries.com  
806-747-3434