July 30, 2007

Archer Daniels Midland to acquire Illinois grain and feed company

Archer Daniels Midland Co. said Friday (July 27) it will take over family-owned grain and feed company Fasco Mills Co., based in northern Illinois. The acquisition will make ADM's presence stronger in the state and have the flow of raw materials increased for its biofuel production.

ADM expects to complete its financial terms on September 1. Other details were not disclosed.

ADM processes soybeans, corn, wheat and cocoa and manufactures ethanol, biodiesel, soybean oil and meal, corn sweeteners and flour.

Fasco operates 13 grain elevators in farm production areas of Illinois.