Archer Daniels Midland to acquire Moroccan corn wet mill
CHICAGO, February 9, 2016
Archer Daniels Midland Company, a leading agricultural processor and food ingredient provider, is set to acquire a Morocco-based corn wet mill that produces glucose and native starch from Tate & Lyle.
Chris Cuddy, president of ADM's Corn Processing business unit, said: “The Morocco plant, which serves both global and regional customers in the food, feed, paper and corrugated board industries, is a great addition to our global sweeteners and starches footprint.
“The facility is the leading sweetener and starch supplier in a country that should see substantial demand growth in the coming years.
"It is well-positioned to serve Moroccan customers as well as Mediterranean export markets. This also represents an opportunity to help introduce a wider range of ADM food and feed ingredients to the Moroccan market.”
The acquisition is subject to regulatory approval, said a statement.
ADM targets closing during the first half of this year, it added. - TradeArabia News Service
