ADM buys assets of Algar and expands presence

U.s.-based Archer Daniels Midland (ADM) yesterday announced the closing of a deal for purchase of units of brazilian soy processors Algar Agro, agro-food arm of Algar group, in a deal that should expand your "global footprint" in time of growing demand for food. By the terms of the transaction, which had no values revealed, ADM will become owner of the integrated plants soy crushing and refining and packaging of soybean oil in Uberlândia (MG) and Blackburn (MA). "ADM's oilseed processor more diverse in the world, and now we are again expanding our capabilities to meet the growing global demand," said Greg Morris, Senior Vice President and President of the oil unit of ADM, in note . When the deal is completed, about 400 employees of Algar Agro will be transferred to North America. " The acquisition of the crushing plants of Algar Agro in Minas Gerais and Maranhão strengthens our position in the main regions of Brazil and demand remains our overall strategic growth ..., "added Morris. ADM Executive said the company seeks to strengthen at a time when the "short-and long-term Outlook for the global demand for food remain strong". In the country, ADM has soybean processing plants in MT, MS, SC and MG, with a capacity of 2.2 mi tons. /Reuters