ADM: Increasing South American Barge Fleet By 50%
February 17 2009 - 5:27PM
Dow Jones News
Archer Daniels Midland Co. (ADM) plans to expand its barge fleet
in South America by 50%, Executive Vice President John Rice said
Tuesday.
The expansion will allow ADM to better serve its customers
globally, Rice said, addressing the annual conference of the
Consumer Analyst Group of New York, in Boca Raton, Fla.
Global agribusiness giant ADM is one of the largest purchases of
soybeans and grains in South America, and the increased barge
capacity will help the company move its cargoes to areas with the
greatest demand.
The move to increase the size of the barge fleet was one of many
measures that Rice detailed aimed at extracting small cost savings
across ADM's extensive operations, helping to improve its
performance and increase its profits.
-By Jessica Resnick-Ault, Dow Jones Newswires, 201-938-4435;
jessica.resnick-ault@dowjones.com