Archer Daniels Midland Co. (ADM) announced May 25 that it has completed the sale of its sugarcane ethanol operations in Limeira do Oeste in the state of Minas Gerais, Brazil.
“ADM's Corn business is delivering on its strategy of diversifying our portfolio and expanding our global footprint while addressing underperforming businesses,” said Chris Cuddy, president of ADM's corn processing business unit. “Last November, we completed our purchase of former Eaststarch assets in Europe. Earlier this year, we announced the purchase of a sweetener facility in Morocco, and now, we've completed the sale of our sugarcane ethanol operations in Brazil, which we determined were unlikely to meet our long-term returns objectives. We are continuing to take strategic action to drive results and deliver healthy returns for our shareholders.”
ADM is one of the largest agribusiness companies in Brazil. With about 3,300 employees, the company processes soybeans in five facilities and sunflower at another and markets the bottled oil brands Concordia, Corcovado and Vitaliv.
The company also operates the largest biodiesel plant in Brazil and more than 40 elevators across the country.
ADM is a joint owner of an export terminal in Barcarena and has a concession to operate a terminal at the Port of Santos in Brazil. The company is also building a soy protein production complex in the country next to its existing soybean plant in Campo Grande, Mato Grosso do Sul.
ADM is one of the world's largest agricultural processors and food ingredient providers, with more than 32,300 employees serving customers in more than 160 countries. Its global value chain includes 428 crop procurement locations, 280 ingredient manufacturing facilities, 39 innovation centers and a premier crop transportation network, making products for food, animal feed, industrial and energy uses.