ADM buying nine grain elevators, entered lease for another, all in Wisconsin; elevators have combined storage capacity of about 20 million bushels
August 31, 2011
– Archer Daniels Midland Company (NYSE: ADM) today announced it has acquired five grain storage elevators from Olsen Brothers Enterprises and, in a separate transaction, has contracted to acquire four grain storage elevators from Olsen’s Mill Acquisition Company/Ag Services of Wisconsin. ADM has also assumed a lease for an elevator from Olsen’s Mill Acquisition Company. All 10 elevators are located in Wisconsin, and have a combined storage capacity of approximately 20 million bushels. ADM began operating the elevators in August under lease agreements.
“The acquisition of these elevators expands our grain origination footprint into Wisconsin, a new origination area for ADM,” said Joe Taets, the president of ADM’s Agricultural Services business. “These elevators are well equipped to handle the harvest with high-speed unloading to help growers get in and out quickly. We look forward to meeting and working with area farmers for the upcoming harvest.”
The nine elevators ADM acquired are located in Auroraville, Belmont, Boscobel, Milwaukee, Oshkosh, Ripon, Stevens Point, Viroqua and Westfield. Each elevator has the capability to load trucks, with Boscobel, Oshkosh, Ripon and Stevens Point also having the ability to load railcars and Milwaukee having the ability to load railcars and shuttle barges on Lake Michigan. The leased elevator is located in Platteville and has truck-loading capabilities. Grain procured at these elevators will supply local dairy markets, ADM’s domestic processing operations and export markets.
ADM brings expertise in local and global agricultural markets to area farmers. At ADM grain facilities, growers find knowledgeable merchandisers and creative contract alternatives to help them market their crops in the most effective and profitable way. Online services through e-ADM.com deliver up-to-the-minute market news and analysis to assist farmers in making the best decisions possible. ADM’s knowledge combined with creative products and services help farmers make the most of their business to ensure farming remains a viable way of life for future generations. To learn more about the services ADM offers growers, visit www.adm.com/farmers.
Every day, the 30,000 people of Archer Daniels Midland Company (NYSE: ADM) turn crops into renewable products that meet the demands of a growing world. At more than 265 processing plants, we convert corn, oilseeds, wheat and cocoa into products for food, animal feed, chemical and energy uses. We operate the world’s premier crop origination and transportation network, connecting crops and markets in more than 75 countries. Our global headquarters is in Decatur, Illinois, and our net sales for the fiscal year ended June 30, 2011, were $81 billion. For more information about our company and our products, visit www.adm.com.