ADM to Acquire Meiweiyuan Biotechnology; Terms Not Disclosed
Archer Daniels Midland Company (NYSE: ADM) announced today that it has
reached an agreement to purchase Meiweiyuan Biotechnology Co., a
privately held sweetener manufacturer near the city of Wuhan, in the
central Chinese province of Hubei.
"This acquisition helps further expand our footprint in regions with
growing demand for our products," said Chris Cuddy, president of ADM's
Corn Processing business. "Last November, we were excited to begin
production at our new sweetener facility in Tianjin, which is allowing
us to serve major customers in the northern part of the country as well
as Asian export markets. Now, we are expanding to better meet demand for
starches and sweeteners from customers in central and western China.