Sector News

ADM Grows Sweetener Business in China with Agreement to Purchase Meiweiyuan Biotechnology

May 18, 2015
Food & Drink
(BUSINESS WIRE) – Archer Daniels Midland Company (NYSE: ADM) announced today that it has reached an agreement to purchase Meiweiyuan Biotechnology Co., a privately held sweetener manufacturer near the city of Wuhan, in the central Chinese province of Hubei.
 
“This acquisition helps further expand our footprint in regions with growing demand for our products,” said Chris Cuddy, president of ADM’s Corn Processing business. “Last November, we were excited to begin production at our new sweetener facility in Tianjin, which is allowing us to serve major customers in the northern part of the country as well as Asian export markets. Now, we are expanding to better meet demand for starches and sweeteners from customers in central and western China. This is another example of how ADM is looking for—and seizing—great opportunities for profitable growth.”
 
The proposed acquisition is subject to regulatory approval. ADM hopes to complete the transaction in the coming weeks.
 
ADM also announced that it has signed a memorandum of understanding with the government of Hanchuan County, Hubei Province, in which the government commits to supporting ADM’s investment and its future expansion in the region.
 
“The Chinese government has called for increased investment in central and western China,” said Ismael Roig, ADM’s president, Asia-Pacific. “We see great opportunities in the region, and strongly believe that this acquisition will help to create value for customers, communities and our company. We expect this investment to meet our returns objectives.”
 
Source: ADM

comments closed

Related News

November 27, 2022

Cargill to appoint Brian Sikes as president and CEO

Food & Drink

Cargill will appoint Brian Sikes as its president and chief executive officer on 1 January 2023. The soon-to-be CEO, currently holding the chief operating officer title, has worked at Cargill for 31 years. Dave MacLennan, who has served as Cargill’s CEO since 2013, will assume the role of executive chair of the company’s board of directors.

November 27, 2022

Wellness, self-expression drive the latest trends in colors and flavors

Food & Drink

Comforting colors, feel-good flavors, and unique food and beverage experiences will resonate most with consumers in the new year, according to ADM’s latest Flavor and Color Outlook. ADM anticipates that 2023 will be the year of self-expression, and the company identified four trends that are sure to stand out.

November 27, 2022

Nespresso unveils home-compostable coffee capsules in partnership with Huhtamaki

Food & Drink

Nestlé’s Nespresso brand will pilot home-compostable coffee capsules on the Nespresso Original system in France and Switzerland from spring 2023 before further launches in several other European countries within a year. The paper-based capsules are touted as a breakthrough in packaging technology after three years of R&D.