ADM Continues Evolution of Carbohydrate Solutions Business with Significant Expansion of Starch Production in Marshall, Minnesota
12 Mai 2022 - 3:00PM
Business Wire
Investing to ensure capacity to meet increasing demand from
food, beverage and industrial customers
New capacity will propel continued growth of BioSolutions
platform
ADM (NYSE: ADM), a global leader in nutrition and sustainable
solutions, today announced it will invest to significantly expand
starch production at its Marshall, Minnesota, facility in order to
meet fast-growing demand from the food and beverage sectors, and to
support the continued expansion of the company’s BioSolutions
platform.
“We’re continuing to evolve our Carbohydrate Solutions business
to align with growing and changing demand, driven by the global
trends of food security and sustainability,” said Chris Cuddy,
president of ADM’s Carbohydrate Solutions business. “Three years
ago, we announced that we would be phasing out production of
high-fructose corn syrup at Marshall and expanding starch
production to support increasing demand for products like
sustainable packaging. In the short time since then, demand has
continued to expand, both for food and beverage customers as well
as for the broad array of plant-based products that make up our
fast-growing BioSolutions platform. This significant capacity
expansion will help ensure that we can continue to meet our
customers’ needs across this broad portfolio.”
ADM’s BioSolutions platform meets demand for more sustainable
products and solutions across a wide variety of applications, from
construction to packaging to personal care. BioSolutions delivered
$100 million in new annualized revenue in 2021, and has continued
swift expansion, with $55 million in new sales growth in 2022.
“We’re continuing to expand the frontier of what is possible to
meet demand for sustainable, plant-based products and solutions,”
Cuddy continued. “From our bioplastics agreement with LG Chem, to
our work with NET Power and 8 Rivers to build a zero-emissions
power plant in Decatur, to our advancement of the decarbonization
of our footprint, we’re powering growth and living our purpose with
the continued evolution of our Carbohydrates Solutions
business.”
The Marshall project is expected to be complete in the second
half of 2023.
Forward-Looking Statements
Some of the above statements constitute forward-looking
statements. ADM’s filings with the SEC provide detailed information
on such statements and risks, and should be consulted along with
this release. To the extent permitted under applicable law, ADM
assumes no obligation to update any forward-looking statements.
About ADM
ADM unlocks the power of nature to enrich the quality of life.
We’re a premier global human and animal nutrition company,
delivering solutions today with an eye to the future. We’re blazing
new trails in health and well-being as our scientists develop
groundbreaking products to support healthier living. We’re a
cutting-edge innovator leading the way to a new future of
plant-based consumer and industrial solutions to replace
petroleum-based products. We’re an unmatched agricultural supply
chain manager and processor, providing food security by connecting
local needs with global capabilities. And we’re a leader in
sustainability, scaling across entire value chains to help
decarbonize our industry and safeguard our planet. From the seed of
the idea to the outcome of the solution, we give customers an edge
in solving the nutritional and sustainability challenges of today
and tomorrow. Learn more at www.adm.com.
Source: Corporate Release Source: ADM
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version on businesswire.com: https://www.businesswire.com/news/home/20220512005332/en/
ADM Media Relations Jackie Anderson media@adm.com
312-634-8484
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