ADM Adds to European Sweetener and Starch Footprint with Proposed Acquisition of Chamtor
March 27 2017 - 11:00AM
Business Wire
- French facility well-positioned to
serve key markets in Western Europe
Archer Daniels Midland Company (NYSE: ADM) announced today that
it has been granted exclusivity in relation to the proposed
purchase of Chamtor, a French producer of wheat-based sweeteners
and starches.
“After adding to our sweetener and starch capabilities in
Eastern Europe, we are continuing to execute our strategy by
expanding in Western Europe,” said Pierre Duprat, president, ADM
Europe, Middle East and Africa. “Seventy percent of the European
starch and derivatives market is in Western Europe. Chamtor is
located in the heart of the European wheat belt, and is perfectly
positioned to efficiently serve Western European sweetener and
starch customers, particularly in France, Germany, Belgium and the
Netherlands.”
Chamtor, founded in 1992, produces glucose, starch and proteins
from wheat. The company, which is currently owned by Vivescia
Industries, is located in Reims, France, and has about 210
employees.
In 2015, ADM purchased full ownership of corn wet mills in
Bulgaria and Turkey, and a 50 percent stake in a wet mill in
Hungary. Last year, the company acquired a sweetener and starch
facility in Morocco, and announced expansion plans for the Turkey
and Bulgaria plants.
“One of the key elements of our strategy to grow shareholder
value is the expansion and diversification of our global sweetener
and starch capabilities,” said Chris Cuddy, president of ADM’s Corn
Processing business. “With our significant and growing footprint,
we are looking forward to efficiently serving sweetener and starch
customers throughout Europe.”
Under French law, the signing of an acquisition agreement is
contingent upon informing and consulting with relevant employee
representative bodies. Subject to that process, ADM is targeting
completion of the sale, which requires regulatory approvals, by
this summer.
Forward-Looking Statements
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.
About ADM
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
approximately 32,000 employees serving customers in more than 160
countries. With a global value chain that includes approximately
500 crop procurement locations, 250 ingredient manufacturing
facilities, 38 innovation centers and the world’s premier crop
transportation network, we connect the harvest to the home, making
products for food, animal feed, industrial and energy uses. Learn
more at www.adm.com.
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Archer Daniels Midland CompanyMedia
RelationsJackie Andersonmedia@adm.com312-634-8484
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