Archer-Daniels-Midland Plans To Invest $300M To Expand Protein Production - Archer-Daniels Midland (NYSE:ADM)

Archer-Daniels-Midland Co ADM said it is planning a $300 million investment to expand its Decatur, Illinois, alternative protein production.
The company will also launch a Protein Innovation Center to enhance its alternative protein capabilities.
The project is expected to be completed in the first quarter of 2025.
The investment will support ADM's soy protein concentrate capacity and nearly double the extrusion capacity at the Decatur complex.
"The array of opportunity areas for alternative proteins in foods and nutrition solutions is continuing to grow at 10% CAGR, with alternative meat and dairy sales alone expected to grow by 14% a year and reach $125 billion in 2030," said Leticia Gonçalves, ADM's president of Global Foods.
Price Action: ADM shares are trading higher by 0.71% at $95.24 on the last check Tuesday.