Archer Daniels Midland announced the construction of a new Brazilian biofuel plant on Tuesday. The biodiesel plant, ADM’s second in Brazil, will be located in Joacaba, Santa Catarina next to an existing soybean plant and will increase ADM’s biodiesel capacity in Brazil by 50%.
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In a press release, Patricia Woertz, chairman, chief executive officer and president of ADM, commented on the news:
“We see exciting opportunities for … Read the rest
Archer Daniels Midland just announced that they have received a $24.8 million grant to build a biomass plant that will convert waste into fuel ethanol and ethyl acrylate. The refinery will use a step called pretreatment that will also be used in ADM’s ongoing biocrude production efforts.
In a press release, Dr. Todd Werpy, vice president, Biofuels and Biochemical Research, commented on the news:
“By helping reduce the financial risk inherent in this kind of … Read the rest
Archer Daniels Midland just announced that is has received a $24.8 million grant from the Department of Energy to build a $36 million biofuels plant in Decatur, Illinois. The plant will focus on advancing biofuel technology.Construction should start next year and be completed by 2012. The remaining funding not covered by the grant will be drawn from private sources.
In a press release, Todd Werpy, ADM’s vice president of Biofuels and Biochemical Research, commented … Read the rest
Archer Daniels Midland just announced that it has purchased an oilseed plant in the Czech Republic from ViaChem Group. The plant consists of facilities for crushing oilseeds, refining them and producing biodiesel. In addition to energy, the plant produces oil and meal for the food and feed markets.
In a press release, Brent Fenton, ADM Europe’s managing director, commented on the acquisition:
This acquisition will allow ADM to expand further its leadership position in agricultural … Read the rest
An EU trade committee has approved temporary anti-dumping and anti-subsidy tariffs on imports of US biodiesel. This will affect Us biofuels companies like agricultural giant Archer Daniels Midland. The tariffs go into effect March 13th-after that, Archer Daniels will have to pay 26 euros for each 100 kg of biodiesel imported into Europe. Chicagoist quotes an EU biodiesel official on the reason for imposing the duties, which are part of a larger trade dispute between … Read the rest
Coverted Organics (COIN) just surged about 10% intraday on news of a strategic partnership with Archer Daniels Midland (ADM) to develop organic liquid based and solid fertilizers for use in the professional turfgrass market and will have access to ADM’s patent pending technology.… Read the rest
Archer Daniels Midland released its first quarter results today. They reported a jump in profits, with net income of $1.05 billion, or $1.63 per share, That’s a big jump from this time last year, when the company reported net income of $441 million, or 68 cents per share.
Due to price increases, net sales rose 65 percent to $21.16 billion, even as sales volumes remained steady. In addition to the increase in sales, ADM … Read the rest
Archer Daniels Midland, Deere and Company, and Monsanto are collaborating to look for ways to use corn stover in animal feed and as a source of biomass for energy production. Stover consists of the leaves, stalk and cob of the corn. These waste products are usually left on the field to fertilize the soil and prevent erosion, but these companies believe they can increase the value of this material so that farmers can produce more … Read the rest
ADM reported a drop in fiscal fourth-quarter profit even as the company’s sales were boosted by higher commodity prices.
ADM reported net income in the quarter ended June 30 of $372 million, or 58 cents a share, down from $955 million, or $1.47 a share, a year earlier. The profit picture was complicated by gains from asset sales last year, which added $616 million after taxes to year-earlier results. Excluding the effect of those gains, … Read the rest