ADM Acquires Three Grain Elevators in Slovakia
January 04 2012 - 10:30AM
Business Wire
Archer Daniels Midland Company (NYSE: ADM) today announced it
has acquired three grain elevators in Slovakia from the companies
Palma Group a.s. and Polnonakup Hont a.s. The new assets are ADM’s
first in the country.
“The acquisition of these elevators extends ADM’s origination
network into Slovakia and along the Danube River, advancing our
strategy to grow our reach in Central and Eastern Europe,” said
Tido Boehle, ADM general manager, Origination and Terminals,
Europe. “The facilities will store and supply crops for our
European processing facilities and will help us better serve the
local farming community by connecting local crops to export
markets.”
Located in Levice, Hontianske Nemce and Secovce, in the south
and east of Slovakia, the silos will enable ADM to secure
additional rape and sun seed, as well as corn and wheat from new
supply sources. The three facilities have a combined storage
capacity of 149,000 metric tons, as well as train loading
capabilities.
ADM operates oilseed processing facilities in the Czech
Republic, Germany, Netherlands, Poland, the U.K. and Ukraine. In
Europe, ADM also has a joint venture with Tate &
Lyle—Eaststarch—which is headquartered in the Netherlands.
Eaststarch operates wet corn mills in Bulgaria, Hungary, Slovakia
and Turkey. The recent acquisitions complement the Eaststarch
operations, as ADM can now supply corn to the Boleraz site in
Slovakia.
About ADM Czech Republic
ADM began operations in the Czech Republic in 2009 when the
company acquired an oilseed crushing and refining facility in
Olomouc. ADM recently announced plans to expand the processing and
storage at this site enabling the facility to buy more crops from
local suppliers. ADM also operates a trading company in Prague that
originates grains such as wheat, barley and corn, and oilseeds like
sunflower and rapeseed.
About ADM
For more than a century, the people of Archer Daniels Midland
Company (NYSE: ADM) have transformed crops into products that serve
vital needs. Today, 30,000 ADM employees around the globe convert
oilseeds, corn, wheat and cocoa into products for food, animal
feed, industrial and energy uses. With more than 265 processing
plants, 400 crop procurement facilities, and the world’s premier
crop transportation network, ADM helps connect the harvest to the
home in more than 160 countries. For more information about ADM and
its products, visit www.adm.com.
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