Archer Daniels Midland Company (NYSE: ADM) today announced an agreement to purchase a port terminal in the state of Pará in Brazil.
“By adding this strategically located port to our extensive logistics network in Brazil, we will increase our capacity to export grain from Western and Northern Brazil and further expand our fertilizer operations throughout the country,” said Valmor Schaffer, president, ADM South America. “This port will enhance ADM’s global reach, better connecting the Brazilian harvest to markets including Europe, the Middle East, and even Asia through the Panama Canal.”
The facility was designed to handle minerals, and ADM plans to convert it to handle bulk grains and agricultural inputs. ADM also plans to upgrade the facility to handle Panamax vessels and double its storage capacity. Once complete, the new port will have capacity to handle 3 million metric tons a year.
ADM is Brazil’s largest soybean meal exporter, the second largest exporter of soybeans and the Brazilian economy’s seventh largest exporter overall. The company currently operates in all of Brazil’s major agricultural ports and owns a port terminal in Santos, São Paulo.About ADM in Brazil ADM is one of the largest agribusiness companies in Brazil. With more than 4,000 employees, the company processes soy at four facilities, and markets the soy oil brands Sadia, Concórdia and Corcovado. The company operates the largest biodiesel plant in Brazil, five fertilizer blending facilities, a cocoa processing plant, a sugar cane processing facility that produces ethanol, and more than 40 elevators across the country. About ADM For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve vital needs. Today, 30,000 ADM employees around the globe convert oilseeds, corn, wheat and cocoa into products for food, animal feed, industrial and energy uses. With more than 270 processing plants, 420 crop procurement facilities, and the world’s premier crop transportation network, ADM helps connect the harvest to the home in more than 160 countries. For more information about ADM and its products, visit www.adm.com.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV