Archer Daniels Converting Soybean Mill

Now it will crush rapeseed too.
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Archer Daniels Midland (ADM) - Get Report plans to convert an existing soybean-crushing line to provide multiseed crushing capacity at its Europoort, the Netherlands, location.

The Decatur, Ill., facility will have an annual rapeseed crush capacity in excess of 1 million tonnes. A soybean-crushing line is being converted to rapeseed crushing to supply the company's biodiesel production operations and to meet the needs of existing food oil customers. The conversion will also allow flexibility to switch between soybean and rapeseed crushing, depending upon demand.

"This plant will complement our existing network of biodiesel and food ingredient businesses throughout Europe," said Mark Zenuk, ADM vice president and managing director-Europe and Asia. "As global demand for energy grows, biofuels, like biodiesel, are an important part of the world's energy supply. Through this plant, ADM is helping to meet the growing demand for rapeseed oil, which is used for biodiesel and food purposes."

Construction is dependent upon applicable governmental approvals. The plant is expected to be operational in January 2007.

ADM fell 3 cents to $29.96.