Archer Daniels Midland to sell Brazilian sugarcane ethanol operations
In Illinois, Archer Daniels Midland Company will sell its sugarcane ethanol operations in Limeira do Oeste to JFLim Participações S.A. The sale will encompass ADM’s sugarcane plantation and ethanol distillery, capable of producing 37,000 gallons of ethanol per year, and is expected to close in the second quarter of this year.
President of ADM’s corn processing business unit Chris Cuddy said of the transaction: “We regularly review our asset portfolio to determine how best to maximize shareholder returns, and in this case, we have determined that our sugarcane ethanol operations in Brazil are unlikely to meet our long- term returns objectives. As our sole sugarcane ethanol operation in Brazil, this asset is too small for ADM to compete effectively in a challenging ethanol environment.”
Category: Fuels
