Archer Daniels Midland To Buy Oilseed Processing Facility Of Algar Agro

(RTTNews) - Archer Daniels Midland Co. (ADM) announced Thursday said it agreed to purchase certain assets of Brzil based Algar Agro, including oilseeds processing facilities in Uberlândia Maranhão.

ADM will become owner of integrated crush and oil refining/bottling facilities in Uberlândia and Porto Franco. ADM will also gain access to an extensive network of origination and storage silos throughout northeastern and southeastern Brazil.

The deal is expected to close by the end of the year. When the transaction is complete, Algar Agro's approximately 400 employees will transfer to ADM.