CHICAGO — Archer Daniels Midland Co. has reached agreement with Tate & Lyle P.L.C. to acquire the latter’s Casablanca, Morocco-based corn wet mill that produces glucose and native starch. Financial terms of the transaction were not disclosed.
|Chris Cuddy, president of ADM’s Corn Processing business unit|
“The Morocco plant, which serves both global and regional customers in the food, feed, paper and corrugated board industries, is a great addition to our global sweeteners and starches footprint,” said Chris Cuddy, president of ADM’s Corn Processing business unit. “The facility is the leading sweetener and starch supplier in a country that should see substantial demand growth in the coming years. It is well-positioned to serve Moroccan customers as well as Mediterranean export markets. This also represents an opportunity to help introduce a wider range of ADM food and feed ingredients to the Moroccan market.”