Archer Daniels Midland Company (NYSE: ADM) today announced that it will
increase its South American oilseed crush capacity by more than 25
percent with the construction of a major new soybean plant in Paraguay.
The new plant, with an anticipated daily crush capacity of 3,300 metric
tons, will be located adjacent to an ADM fertilizer-blending plant in
Villeta, near the capital city of Asuncion, and will benefit from
proximity to a nearby port facility on the Paraguay River. This location
will increase local crop-origination and export capacity and enable the
company to import fertilizer components more cost-effectively.
Construction began in June and is expected to be complete in 2012.
The project will create more than 150 permanent jobs, as well as an
estimated 500 jobs at peak construction.
The plant is part of ADM′s strategy to increase crop-sourcing and
processing capacity in South America′s key growing regions. Soybean
production in Paraguay has been growing at an annual rate of 13 percent
for the past 10 years.
'This plant will link South America′s productive farmers with the
world′s growing demand for food and energy,? said John Rice, executive
vice president, Commercial and Production. 'ADM will grow oilseed crush
volumes over the next five years at about double predicted market rate.
We will achieve a compound annual growth rate of 7 to 10 percent through
both organic growth and acquisitions.?
About ADM
Every day, the 29,000 people of Archer Daniels Midland Company (NYSE:
ADM) turn crops into renewable products that meet the demands of a
growing world. At more than 240 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 60
countries. Our global headquarters is in Decatur, Illinois, and our net
sales for the fiscal year ended June 30, 2010, were $62 billion. For
more information about our Company and our products, visit
