Archer Daniels Midland Company announced today that it has reached an agreement to purchase a controlling interest in Industries Centers, an Israeli company specializing in the import and distribution of agricultural feed products.
“With this investment, we are continuing to expand and enhance our core value chain, including our ability to deliver direct to the customer,” said Joe Taets, president of ADM’s Agricultural Services business unit. “Industries Centers offers an entry point into a strong, established Israeli market. We have worked with them in the past to help us import our own products into Israel, and we know them as an experienced, capable partner.”
Industries Centers, founded in 1993, trades corn byproducts and other grain products. It has offices in the Tel Aviv area, and operates a 45,000 MT storage facility strategically located at the Port of Ashdod. The company has a significant and diversified customer base within Israel. It is privately owned.
“This is a great opportunity for us to reach new customers with a wide array of products, from soybean meal to grains to feed ingredients,” Taets continued. “It also represents a further expansion of our destination marketing capabilities, which remain a strategic priority as we work to enhance shareholder returns by extending our value chain to the end customer.”
The transaction is subject to regulatory approval in Israel. ADM anticipates completing the deal in the coming months.
US scientists have reprogrammed E. coli to produce chondroitin sulfate, a polysaccharide molecule used in pharmaceuticals and nutraceuticals.
Flow Alkaline Spring Water has announced the appointment of former Nestlé Waters head, Maurizio Patarnello, to the role of CEO.
Danone has announced that Emmanuel Faber will be stepping down as CEO to focus on his role as non-executive chairman, following pressure to split the functions from investors.