ADM to acquire South Carolina soybean facility
December 14, 2010
by Eric Schroeder
DECATUR, ILL. — Archer Daniels Midland Co. has taken control of Carolina Soya’s Estill, S.C., assets, including the company’s soybean storage facility and a shuttered soybean processing plant. Additionally, ADM said it is in discussions with Carolina Soya to acquire the property and will lease the facility until the transaction is completed.
ADM will operate the grain storage facility, which has a storage capacity of 3 million bus, but it currently has no plans to operate the processing plant.
“This facility expands our soybean origination footprint in the Southeast,” said Greg Morris, vice-president of North American Oilseeds Processing for ADM. “We look forward to becoming a part of the Estill community and employing a local workforce, and to working with area growers to provide them with access to new marketing opportunities through our global network.”
ADM said it will honor current Carolina Soya grain contracts.