June 01st 2016
Tate & Lyle PLC – Completion of sale of corn wet mill in Morocco.
Archer Daniels Midland Company (ADM) today announced that it has completed the acquisition of a Casablanca, Morocco-based corn wet mill that produces glucose and native starch.
“We continue to anticipate growing demand from Moroccan customers in the food, feed, paper and corrugated board industries, and we look forward to working with them to meet their needs,” said Chris Cuddy, president of ADM’s Corn Processing business unit. “We are excited to show customers in Morocco—and throughout the region—the benefits of working with a global company that not only will be providing great sweetener and starch products at competitive prices, but will also be able to help customers meet a wide variety of needs with an extensive and growing food and feed ingredient portfolio.”
The purchase comes after ADM completed the acquisition of several corn processing facilities in Europe last fall.
“Between this acquisition and the purchase of our former Eaststarch facilities, we are continuing to strengthen our global position in the sweetener and starch market, and our ability to meet customer needs around the world,” Cuddy continued. “We are excited about this growth in our business, and look forward to sharing the benefits with our customers and our shareholders alike.”