News
ADM, Cargill to exchange river-based grain elevators
By Tom Steever Filed Under: Crops, News
Archer Daniels Midland and Cargill both confirm they’ve reached anagreement to exchange ownership of some grain elevator facilities in Indianaand Illinois. ADM is selling Cargill its Illinois River grain facilities inBeardstown, Naples, and Keithsburg, Illinois, Jackie Anderson, a spokespersonat ADM told Brownfield Ag News, Friday. Meanwhile ADM will acquire Cargill’sOhio River grain facilities at Mount Vernon and Evansville, Indiana.
Cargill’s Mount Vernon and Evansville, Indiana, elevators are a great fit for ADM,said Anderson, allowing the company to better serve its customers in that area.
The transaction will enable Cargill to increase efficiency and better execute thecompany’s growth strategy, said Victoria Bagley, a spokesperson at Cargill.
Financial terms of the transaction won’t be disclosed, according to Bagley.
Both Bagley and Anderson say they hope to finalize due diligence and completethe transaction in the coming weeks.
