ADM Announces Plans to Build Biodiesel Production Facility
Facility Will Be ADM's First Wholly-Owned Venture Into Biodiesel Production in the U.S.
DECATUR, Ill., Oct. 4 /PRNewswire-FirstCall/ -- Archer Daniels Midland Company (ADM) (NYSE:ADM) announced today plans to build its first wholly-owned biodiesel production facility in the United States. The 50 million gallon facility will be located in Velva, North Dakota, near the existing ADM crushing facility, and will use canola oil as its primary feedstock. The construction completion date will be dependent on final engineering and permit approval.
"ADM is a world leader in renewable fuels," stated Mike Livergood, ADM Vice President-Global Oleo Chemicals. "Leveraging the success of ADM's experience in the biodiesel market in Europe and ADM's success in the ethanol market in the U.S., we are pleased to bring biodiesel, a cleaner burning and renewable fuel, to the U.S. market through this facility."
As the world's energy requirements are met increasingly through renewable fuels that use agricultural products for feedstocks, ADM is positioned to use the synergies between its extensive grain origination, transportation and processing capabilities to bring biodiesel to the U.S. market. Doing so will help extend oil reserves, create new markets for farmers and make for a better environment.
Biodiesel is a vegetable oil-based fuel made from renewable crops that burns cleaner than traditional petroleum-based diesel fuel. Biodiesel works in diesel engines, improves air quality by reducing greenhouse gas emissions and is a growing fuel source for the world.
ADM is also a partner in Mid-America Biofuels, LLC, which has recently announced plans to build a biodiesel production plant in Mexico, Missouri.
Archer Daniels Midland Company (ADM) is a world leader in agricultural processing. ADM is one of the world's largest processors of soybeans, corn, wheat and cocoa. ADM is also a leader in the production of soy meal and oil, ethanol, corn sweeteners and flour. In addition, ADM produces value-added food and feed ingredients. Headquartered in Decatur, Illinois, ADM has over 25,000 employees, more than 250 processing plants and net sales for the fiscal year ended June 30, 2005 of $35.9 billion. Additional information can be found on ADM's Web site at www.admworld.com/ .
CONTACT: Brian Peterson, Senior Vice President-Corporate Affairs of
Archer Daniels Midland Company, +1-217-424-5413
