ADM Completes Sale of South American Fertilizer Business
18 December 2014 - 4:20AM
Business Wire
Archer Daniels Midland Company (NYSE: ADM) today announced that
it has completed the sale of its South American fertilizer business
to The Mosaic Company (NYSE: MOS).
“The completion of this sale is an important part of our ongoing
portfolio management,” said ADM Chairman and CEO Patricia A.
Woertz. “By selling our blending assets in Brazil and Paraguay, we
are improving our returns and creating shareholder value. At the
same time, we look forward to continuing to partner with growers in
that important region through our grain origination and fertilizer
distribution network.”
The transaction consists primarily of five ADM-owned blending
facilities in Brazil and Paraguay. The Mosaic Company paid US$350
million for the assets; that purchase price included $150 million
in working capital. As part of the transaction, ADM will purchase
fertilizer from Mosaic and will continue to supply certain
fertilizer customers in Brazil and Paraguay.
About ADM
For more than a century, the people of Archer Daniels Midland
Company (NYSE: ADM) have transformed crops into products that serve
the vital needs of a growing world. Today, we’re one of the world’s
largest agricultural processors and food ingredient providers, with
more than 33,000 employees serving customers in more than 140
countries. With a global value chain that includes more than 470
crop procurement locations, 285 ingredient manufacturing
facilities, 40 innovation centers and the world’s premier crop
transportation network, we connect the harvest to the home, making
products for food, animal feed, chemical and energy uses. Learn
more at www.adm.com.
Archer Daniels Midland CompanyMedia
RelationsJackie Anderson217-424-5413media@adm.com
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