Archer Daniels Midland (ADM) announced today that it has reached an agreement to sell its oilseeds operations in Bolivia to Inversiones Piuranas.
The sale encompasses ADM’s processing facility in Santa Cruz de la Sierra, as well as nine grain silos and ADM’s Bolivian distribution business.
ADM’s oilseeds operations in Bolivia process soybeans and sunflower into oils and protein meal. The company has approximately 400 employees in Bolivia.
The transaction, which is subject to regulatory approvals, is expected to close in the first half of 2018.
ADM oilseeds processing business president Greg Morris said: “We regularly review our portfolio, and the sale of our Bolivian oilseeds operations is part of our long-term growth and transformation strategy.”
Earlier this year ADM announced it would acquire French-based company Chamtor, which manufactures sweeteners and starches based on wheat.
It has also commenced operations of a second carbon capture and storage project, which will help to prevent more than 1 million tons of carbon emissions for its corn processing facility in Illinois.
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