Chicago / IL. (adm) Archer Daniels Midland Company (ADM), a global leader in nutrition and sustainable solutions, announced it will invest to significantly expand starch production at its Marshall, Minnesota, facility in order to meet fast-growing demand from the food and beverage sectors, and to support the continued expansion of the company’s BioSolutions platform.
«We’re continuing to evolve our Carbohydrate Solutions business to align with growing and changing demand, driven by the global trends of food security and sustainability,» said Chris Cuddy, president of ADM’s Carbohydrate Solutions business. «Three years ago, we announced that we would be phasing out production of high-fructose corn syrup at Marshall and expanding starch production to support increasing demand for products like sustainable packaging. In the short time since then, demand has continued to expand, both for food and beverage customers as well as for the broad array of plant-based products that make up our fast-growing BioSolutions platform. This significant capacity expansion will help ensure that we can continue to meet our customers’ needs across this broad portfolio.»
ADM’s BioSolutions platform meets demand for more sustainable products and solutions across a wide variety of applications, from construction to packaging to personal care. BioSolutions delivered USD 100 million in new annualized revenue in 2021, and has continued swift expansion, with USD 55 million in new sales growth in 2022.
«We’re continuing to expand the frontier of what is possible to meet demand for sustainable, plant-based products and solutions,» Cuddy continued. «From our bioplastics agreement with LG Chem, to our work with NET Power and 8 Rivers to build a zero-emissions power plant in Decatur, to our advancement of the decarbonization of our footprint, we’re powering growth and living our purpose with the continued evolution of our Carbohydrates Solutions business.»
The Marshall project is expected to be complete in the second half of 2023.
OTHER TOPICS FROM THIS SECTION FOR YOU:
- Cloetta AB: announces Q2-2024 interim report
- Axfood AB: Reports Q2-2024 Financial Results
- Chef Robotics: Launches AI-Powered Food Robot
- Conagra Brands: Reports Fourth Quarter 2024 Results
- Limerston Capital sells Village Bakery to Groupe Menissez
- GrubMarket: Buys Major Foodservice Company in Texas
- Lantmännen acquires Entrack AB
- DPC Dash: Concludes H1-2024 with Sustained Expansion
- Norway: Orkla Food Ingredients acquires FDE
- Fondo Italiano d’Investimento co-invests in Casa della Piada
- Greggs: invests in a new frozen manufacturing and logistics site
- Bundeskartellamt imposes fine against «Fritz!» manufacturer AVM
- Yum China: Celebrates Opening of its 200th KCoffee Store
- Beijing intends to roll out 5’400 food production robots
- K-Citymarket: sees significant sales growth in Finland
- DPC Dash: reaches 900-store milestone in China
- Coffee Holding: Terminates Merger with Delta Corp Holdings
- Perkins Restaurant + Bakery: introduces new brand identity
- Engelmans Bakery: acquires St. Armands Baking Company
- National DCP: Breaks Ground on New Distribution Center