On the Street -- ADM Acquires Oilseed Plant

October 5/Decatur, Ill./Business Wire -- Archer Daniels Midland Company (ADM) announced the expansion of its European oilseed processing capabilities with the acquisition of ViaChem Group's oilseed processing assets in Olomouc, Czech Republic.

This facility, in the Eastern part of the Czech Republic, consists of an oilseed crushing, refining and biodiesel plant that produces oil andmeal for the food, feed and energy markets.

"This acquisition will allow ADM to expand further its leadership position in agricultural processing in Europe and strengthen our softseed processing activities in this region," said Brent Fenton, managing director, ADM Europe. "This new site will support ADM's expansion of its rapeseed and sunseed origination network in Central Europe. In line with ADM's strategy to expand the size and global reach of our core model, this acquisition increases the company's presence in the growing Eastern European market."

From the October 12, 2009, Prepared Foods E-dition