Archer Daniels Midland Company (NYSE: ADM) announced today that it is
investing in substantial improvements and expansions to its port
facilities in Puerto San Martin in the Argentine state of Santa Fe,
enhancing the company’s capability to export grain and other
agricultural products from the region. The improvements, which will
include the construction of a new berth for barge discharge and the
addition of storage capacity, are expected to be complete by early 2016.
“From acquiring full ownership of our Black Sea terminals, to
quadrupling the capacity at our port in northern Brazil, to this
enhancement of our capabilities in Argentina, we are executing on our
plan to diversify and expand our trade and origination territory,” said
Joe Taets, president of ADM’s Agricultural Services business unit.
The current export facilities in Puerto San Martin have an annual
throughput of approximately 2 million metric tons. The improvements will
increase annual capacity by 25 percent, to 2.5 million tons, allowing
ADM to reduce its reliance on third-party facilities, which today are
limiting the company’s ability to export increasing volumes from
Paraguay. The expansion also will allow ADM to move a higher volume of
products through its seamless, fully-owned network, helping the company
to deliver on its goal of providing customers with an identity-preserved
supply chain from origination to processing.
“The improved Puerto San Martin facility, along with our export elevator
just downriver in Arroyo Seco and our deep water port at Bahia Blanca,
will have a total annual throughput capacity of 7.5 million tons, giving
us the ability to take full advantage of expanding agricultural
production in Paraguay and Argentina,” continued Taets.
The Argentina expansion comes on the heels of ADM’s announcement earlier
this month that it is acquiring complete ownership of North Star
Shipping and Minmetal, enhancing the company’s European origination and
transportation network through the addition of export facilities at the
Romanian Port of Constanta on the Black Sea. And in February, ADM
reached an agreement to sell to Glencore plc a 50 percent stake in its
export terminal in Barcarena, in the northern Brazilian state of Pará,
and to quadruple the terminal’s capacity from 1.5 million metric tons to
6 million metric tons.
Forward-Looking Statements
Some of the above statements constitute forward-looking statements.
ADM’s filings with the SEC provide detailed information on such
statements and risks, and should be consulted along with this release.
To the extent permitted under applicable law, ADM assumes no obligation
to update any forward-looking statements.
About ADM
For more than a century, the people of Archer Daniels Midland Company
(NYSE: ADM) have transformed crops into products that serve the vital
needs of a growing world. Today, we’re one of the world’s largest
agricultural processors and food ingredient providers, with more than
33,000 employees serving customers in more than 140 countries. With a
global value chain that includes more than 460 crop procurement
locations, 300 ingredient manufacturing facilities, 40 innovation
centers and the world’s premier crop transportation network, we connect
the harvest to the home, making products for food, animal feed, chemical
and energy uses. Learn more at www.adm.com.
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