The first loaded vessel has departed Archer Daniels Midland Company’s (NYSE: ADM) new export terminal in Barcarena, in the northern Brazilian state of Pará. The terminal is a significant addition to ADM’s expanding logistical network in Brazil, and offers an efficient pathway for the export of grain from the increasingly productive western and northern regions of the country. ADM received approval to begin operations at the terminal at the end of July.
“We are pleased to see operations underway at our new terminal in Barcarena,” said Valmor Schaffer, president, ADM South America. “This terminal positions ADM to continue to grow hand in hand with Brazil’s expanding agricultural production, particularly in the country’s highly productive northern and western regions.”
ADM acquired the terminal in 2012. It currently has the capacity to handle approximately 1.5 million metric tons of grain on an annual basis; ADM intends to expand the terminal’s capacity to 6 million tons by 2016.
“The Barcarena terminal builds on our existing network, which uses inland waterways, rail, and truck transportation to move crops and products throughout Brazil,” Schaffer added. “We are excited by the opportunities presented by Brazil’s expanding agricultural production, and look forward to continuing to be a part of the country’s success.”About ADM in Brazil ADM is one of the largest agribusiness companies in Brazil. With more than 4,700 employees, the company processes soy at four facilities, and markets the soy oil brands Concórdia and Corcovado. The company operates the largest biodiesel plant in Brazil, four fertilizer blending facilities, a cocoa processing plant, a sugar cane processing facility that produces ethanol, and more than 40 elevators across the country. In March, ADM announced plans to construct a soy protein production complex next to the company’s existing soybean processing facility in Campo Grande, Mato Grosso do Sul.
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