ADM acquire 50 pc stake Aston’s sweeteners business

ADM to acquire 50 pc stake Aston’s sweeteners business

6:06 AM, 2nd March 2018
ADM to acquire 50 pc stake Aston’s sweeteners business
ADM headquarters building in Chicago, US. (File photo)

CHICAGO, US: Archer Daniels Midland Company (ADM) to acquire 50 percent stake in Aston Foods and Food Ingredients’ sweeteners and starches business.

The closing of the transaction is accepted late in the second quarter of 2018.

Under the terms of the agreement, ADM will become 50 percent owner of Aston’s corn wet mills in Ibred and Novlyanka, which are strategically located close to major customers in the Russian food and beverage industry.

“ADM has substantially added to our global sweeteners and starches capabilities with acquisitions serving the European Union, Middle East and North Africa markets, and now we are expanding to serve the growing Russian food and beverage industry. Aston is a key player in this important market, and we look forward to joining them and bringing our experience and capabilities to help our new jointly-owned business grow,” said Pierre Duprat, president, ADM Europe, Middle East and Africa.

“This investment is the latest in a series of important additions and enhancements we have made to grow our global corn business,” said Chris Cuddy, president of ADM’s corn processing business.

“Last year, we completed our acquisition of Chamtor, opening up access to key markets in Western Europe. In 2015 and 2016, we acquired corn facilities in Hungary, Bulgaria, Turkey and Morocco, then launched a significant expansion effort to enhance our capabilities in those businesses. And we’ve grown significantly in Asia, with our sweetener facility in Tianjin as well as several animal feed plants. Taken together with this expansion into Russia, these global additions represent a substantial transformation of our corn business as we continue our geographical growth and diversification,” added Cuddy.

© Worldofchemicals News



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

KBR to provide ammonia technology to Panca Amara

HOUSTON, US: KBR Inc (KBR) has entered into an agreement to provide its proprietary technology ammonia InSite technology to PT Panca Amara Utama (PAU) ...

Read more
Biesterfeld, Evonik sign polyurethane distribution partnership

HAMBURG/ESSEN, GERMANY: Biesterfeld Spezialchemie GmbH and Evonik Nutrition & Care GmbH have signed a strategic partnership for the distribution o ...

Read more
CB&I bags contract for Valero’s alkylation project

THE WOODLANDS, US: Chicago Bridge & Iron Company (CB&I) said that its CDAlky technology has been selected by Valero Refining – New ...

Read more
ExxonMobil makes seventh oil discovery offshore Guyana

IRVING, US: ExxonMobil Corporation (XOM) has made its seventh oil discovery offshore Guyana, following drilling at the Pacora-1 exploration well. ...

Read more
BASF, Farsoon launches new PA6 material for 3D printing

SHANGHAI, CHINA: BASF SE and Farsoon Technologies, a leading industrial 3D printing solution provider, have signed a strategic agreement to offer cust ...

Read more
SDK to establish new aluminium centre at Kitakata plant, Japan

TOKYO, JAPAN: Showa Denko KK (SDK) has decided to newly establish aluminium product evaluation centre at its Kitakata plant (Japan), this will be the ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X