Chicago / IL. (adm) Archer Daniels Midland Company (ADM) announced that it has agreed to acquire from Tate + Lyle PLC a Casablanca, Morocco-based corn wet mill that produces glucose and native starch. «The Morocco plant, which serves both global and regional customers in the food, feed, paper and corrugated board industries, is a great addition to our global sweeteners and starches footprint», said Chris Cuddy, president of ADM’s Corn Processing business unit. «The facility is the leading sweetener and starch supplier in a country that should see substantial demand growth in the coming years. It is well-positioned to serve Moroccan customers as well as Mediterranean export markets. This also represents an opportunity to help introduce a wider range of ADM food and feed ingredients to the Moroccan market». The acquisition is subject to regulatory approval. ADM targets closing during the first half of 2016.
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