The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Business Wire

ADM Acquires Grain Elevator in Eastern Germany

<p class='bwalignc'> <i>Elevator extends reach of ADM's origination capabilities</i> </p>

Wednesday, May 11, 2011

ADM Acquires Grain Elevator in Eastern Germany10:00 EDT Wednesday, May 11, 2011 DECATUR, Ill. (Business Wire) -- Archer Daniels Midland Company (NYSE: ADM) today announced it has acquired a grain elevator in Riesa, Germany, from Muskator-Werke GmbH. The facility has a storage capacity of 40,000 metric tons, and has truck, train and barge loading capabilities along the Elbe River. “This elevator extends the reach of ADM's origination capabilities into an important agricultural region of Germany,” said Tido Boehle, ADM general manager, Terminals and Origination, Europe. “This facility will store and supply crops for our European processing facilities and will help us better serve the local farming community by connecting landlocked production areas and global markets.” With the addition of the Riesa facility to ADM's origination network, the company enhances its access to oilseeds, wheat, barley and rye from Eastern Germany and the Czech Republic. ADM operates oilseed crushing facilities in Hamburg and Straubing, Germany; Szamotuly, Poland; and Olomouc, Czech Republic. About ADM in Germany In Hamburg, ADM operates Europe's largest oilseeds crushing and refinery complex, where rapeseed, palm and soybeans are turned into edible oils, margarines, pharmaceutical glycerine and biodiesel fuel. ADM is a leading producer of biodiesel in Germany with biodiesel plants in Hamburg, Leer and Mainz. ADM also operates oilseed processing facilities in Spyck and Straubing. ADM's storage assets in Germany include a silo complex in Hamburg as well as facilities on the Elbe River at Magdeburg and at Rostock on the Baltic Coast. The company's European research and development center is located in Hamburg and supports ADM's business throughout Europe with innovations and expertise that can improve the sensory quality, nutrition and cost of a wide range of products, including confectionery, baked goods, savory snacks, margarines and spreads, and dairy substitutes. ADM has more than 1,000 employees in Germany. 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 www.adm.com. From:ADM Media Relations, 217-424-5413media@adm.comorADM International Sàrl, + 41 (0)21 702 8400media-eu@adm.com