CHICAGO — Archer Daniels Midland Co. has completed its acquisition of a controlling interest in Industries Centers, which will now be known as ADM Israel.
|Joe Taets, president of ADM’s Agricultural Services business unit|
“By combining ADM’s unparalleled global network with the experience and capabilities of Industries Centers, ADM Israel offers customers in Israel unequalled service, including end-to-end supply chain management,” said Joe Taets, president of ADM’s Agricultural Services business unit. “We’re looking forward to expanding to offer both new and existing customers in Israel a wide array of products, from soybean meal to grains to feed ingredients.”
ADM Israel, which serves a significant and diversified customer base within Israel, operates a 45,000 tonne storage facility located at the Port of Ashdod.
“This is yet another way in which ADM is expanding its global origination and distribution network into new geographies, and growing our capability to deliver products from around the globe directly to customers,” Mr. Taets said. “From our Medsofts joint venture to our ports on the Black Sea to our new venture here in Israel, we are committed to enhancing our global origination and logistics capabilities so that we can offer customers around the world best-in-class service.”
Omer Eran, chief executive officer, ADM Israel, added, “Having been a customer of ADM for so many years, it is a proud day for all of us at Industries Centers, as we partner with ADM and begin a new journey together as ADM Israel.”
Founded in 1993, Industries Centers trades corn byproducts and other grain products. It has offices in the Tel Aviv area. The company has a significant and diversified customer base within Israel.
This acquisition is the latest for ADM. On July 5, the company completed the acquisition of Chamtor, a French producer of wheat-based sweeteners and starches.The French facility, which produces glucose, starch and proteins from wheat, is the most recent in a series of enhancements to ADM’s global sweetener and starch capabilities. In 2015, ADM purchased full ownership of corn wet mills in Bulgaria and Turkey, and a 50% stake in a wet mill in Hungary. Last year, the company acquired a sweetener and starch facility in Morocco, and announced expansion plans for the Turkey and Bulgaria plants.