ADM buys three grain elevators in Slovakia
Jan. 5, 2012
by Eric Schroeder
BRATISLAVA, SLOVAK REPUBLIC —Archer Daniels Midland Co. has entered Slovakia with the acquisition of three grain elevators from the companies Palma Group a.s. and Polnonakup Hont a.s.
“The acquisition of these elevators extends ADM’s origination network into Slovakia and along the Danube river, advancing our strategy to grow our reach in Central and Eastern Europe,” said Tido Boehle, general manager of ADM Origination and Terminals, Europe. “The facilities will store and supply crops for our European processing facilities and will help us better serve the local farming community by connecting local crops to export markets.”
ADM said the grain elevators, which are located in Levice, Hontianske Nemce and Secovce, will allow the company to secure additional rape and sun seed, as well as corn and wheat from new supply sources. The three facilities have a combined storage capacity of 149,000 tonnes, as well as train loading capabilities.
ADM operates oilseed processing facilities in the Czech Republic, Germany, The Netherlands, Poland, the United Kingdom and Ukraine. In Europe, ADM also has a joint venture with Tate & Lyle — Eaststarch — which is headquartered in The Netherlands. Eaststarch operates wet corn mills in Bulgaria, Hungary, Slovakia and Turkey. The recent acquisitions complement the Eaststarch operations, as ADM now may supply corn to the Boleraz site in Slovakia.