ADM Expands Danube River Export Network
August 02 2011 - 11:06AM
Business Wire
Archer Daniels Midland Company (NYSE: ADM), through its
affiliate Alfred C. Toepfer International G.m.b.H. (ACTI), today
announced a strategic expansion of its grain origination, storage,
transportation and export operations along the Danube River in
Romania. The project includes 12 grain elevators along the Danube,
one inland-storage elevator in Western Romania and a joint-venture
export elevator in the Black Sea port of Constanta.
“We see great opportunities to increase our origination and
transportation capabilities along the Danube River in Romania,
which has become a net exporter of grain and oilseeds over the past
several years,” said Gary L. Towne, chairman of the management
board of ACTI. “The Danube River export project creates an
end-to-end network, giving us the ability to originate crops
directly from farmers, transport and store them, and ultimately
export them to markets around the world.”
The network, which is similar to ADM’s
origination-through-export networks along the Paraguay River and
Mississippi River, includes three river elevators at Giurgiu, and
one river elevator each at Braila, Constanta, Corabia, Oltenita,
Orsova and Zimnicea. ACTI is also constructing new elevators at
Calarasi, Giurgiu and Moldova Noua and has acquired a barge fleet
to connect the network of river elevators to the joint-venture
export elevator recently finished in Constanta. In addition, ACTI
has plans to construct elevators at Borduşani, Corabia and
Galati.
“This project is strategically important as we expand our
origination network in Eastern Europe,” said Towne. “The storage
facilities and export elevator are well positioned to give us
additional capacity to move crops along the Danube River and to the
Black Sea, while the addition of Toepfer-owned barges provides us
with greater control of our supply chain and helps us achieve
favorable transportation margins in what can be a volatile market,”
said Towne.
About ACTISince its founding in 1919, Alfred C. Toepfer
has been active in trading grain, oilseeds and feedstuffs. Today,
Toepfer International is headquartered in Hamburg, Germany, with 36
branch offices around the world. More than 2,000 employees trade
more than 42 million tons of commodities annually. ADM originally
invested in ACTI in 1983, and today owns 80 percent of the company,
with the remaining 20 percent owned by French farming cooperative
Union InVivo.
About ADMEvery day, the 30,000 people of Archer Daniels
Midland Company (NYSE: ADM) turn crops into renewable products that
meet the demands of a growing world. At more than 265 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 75 countries. Our global
headquarters is in Decatur, Illinois, and our net sales for the
fiscal year ended June 30, 2011, were $81 billion. For more
information about our company and our products, visit
www.adm.com.
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