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Archer Daniels Midland Company : ADM to Build Biodiesel Plant in Lloydminster, Canada

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11/14/2011 | 05:05pm CEST

Archer Daniels Midland Company (NYSE: ADM) today announced that it will build a 265 million liter (70 million gallon) biodiesel plant in Lloydminster, Alberta, Canada, which will increase ADM's North American biodiesel production capacity by 50 percent. The biodiesel plant will be located adjacent to the company's existing canola crushing facility in Lloydminster which will help optimize ADM's agricultural origination, transportation and processing assets in Canada.

"The same agricultural processing operations we use to transform canola into oil for food and meal for animal feed also provide ADM with the ability and scale to efficiently produce cleaner-burning, renewable biodiesel," said Mike Livergood, ADM vice president, global oleo chemicals. "This new biodiesel facility will help support canola crush margins and capacity utilization at this facility."

Biodiesel produced at ADM's facility in Lloydminster will help fulfill Canada's renewable diesel mandate. Since July 1, 2011, all diesel fuel and heating oil sold in Canada must contain at least 2 percent biodiesel.

"Biodiesel represents a smart investment for ADM and for Canada," said J.P. Montalvo, commercial manager at ADM's Lloydminster facility. "A robust Canadian biodiesel industry diversifies the fuel supply, provides environmental benefits and fosters increased local demand for canola, which creates value for rural communities. We look forward to working with canola producers to help meet Canada's desire for renewable biodiesel."

Construction on the facility will commence in spring 2012, and be completed in the fourth quarter of calendar year 2013.

In March, ADM announced plans to double the canola seed receiving capabilities and storage capacity at the Lloydminster facility. The project, which is expected to be completed by the end of the calendar year, includes the construction of five new storage bins and a second receiving system, which is expected to significantly reduce unloading times for area farmers.

ADM in Canada

In Canada, ADM sources, stores, transports and processes crops such as wheat, cocoa and oilseeds at a total of 24 facilities operated by more than 950 men and women. These operations include wheat mills and bakery mix plants; oilseeds crushing plants and refineries; cocoa processing facilities; grain elevators; and plants that blend fertilizer and manufacture animal feed and feed ingredients.

ADM operates two oilseeds processing facilities in Canada. The Windsor, Ontario, plant crushes soybeans and canola for use in various food ingredients and animal feeds. The plant is served by two grain elevators and two grain procurement offices, and a Montreal sales office helps market its products. In Lloydminster, Alberta, ADM crushes canola and exports much of the resulting oil to Asia for food applications, and to Europe for use as a biodiesel feedstock. Canola meal is used principally for livestock feed. ADM's Lloydminster plant is served by elevators in Watson and Carberry.

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, chemical and energy uses. With more than 265 processing plants, 400 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.

Archer Daniels Midland Company
Media Relations
Jessie McKinney
[email protected]

© Business Wire 2011
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EBIT 2017 1 839 M
Net income 2017 1 403 M
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Yield 2017 2,66%
P/E ratio 2017 17,71
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Archer Daniels Midland Com Technical Analysis Chart | ADM | US0394831020 | 4-Traders
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