ADM to Acquire Nine Grain Elevators in Wisconsin
Archer Daniels Midland Company (NYSE: ADM) today announced it has
acquired five grain storage elevators from Olsen Brothers Enterprises
and, in a separate transaction, has contracted to acquire four grain
storage elevators from Olsen′s Mill Acquisition Company/Ag Services of
Wisconsin. ADM has also assumed a lease for an elevator from Olsen′s
Mill Acquisition Company. All 10 elevators are located in Wisconsin, and
have a combined storage capacity of approximately 20 million bushels.
ADM began operating the elevators in August under lease agreements.
'The acquisition of these elevators expands our grain origination
footprint into Wisconsin, a new origination area for ADM,? said Joe
Taets, the president of ADM′s Agricultural Services business. 'These
elevators are well equipped to handle the harvest with high-speed
unloading to help growers get in and out quickly. We look forward to
meeting and working with area farmers for the upcoming harvest.?
The nine elevators ADM acquired are located in Auroraville, Belmont,
Boscobel, Milwaukee, Oshkosh, Ripon, Stevens Point, Viroqua and
Westfield. Each elevator has the capability to load trucks, with
Boscobel, Oshkosh, Ripon and Stevens Point also having the ability to
load railcars and Milwaukee having the ability to load railcars and
shuttle barges on Lake Michigan. The leased elevator is located in
Platteville and has truck-loading capabilities. Grain procured at these
elevators will supply local dairy markets, ADM′s domestic processing
operations and export markets.
ADM brings expertise in local and global agricultural markets to area
farmers. At ADM grain facilities, growers find knowledgeable
merchandisers and creative contract alternatives to help them market
their crops in the most effective and profitable way. Online services
through e-ADM.com
deliver up-to-the-minute market news and analysis to assist farmers in
making the best decisions possible. ADM′s knowledge combined with
creative products and services help farmers make the most of their
business to ensure farming remains a viable way of life for future
generations. To learn more about the services ADM offers growers, visit www.adm.com/farmers.
About ADM
Every 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.
ADM Media Relations
217-424-5413
media@adm.com
