Archer Daniels Midland Company (ADM) has announced plans to expand its production capacity of sweeteners and starches at its facilities in Turkey and Bulgaria to meet regional and global demand.
The American global food processing company had acquired corn wet mills at Adana and Razgrad in Turkey and Bulgaria respectively in November.
Besides, it also bought a 50% ownership stake during the same time, in a corn wet mill in Hungary, located in Szabadegyháza.
ADM Europe, Middle East and Africa president Pierre Duprat said: “We continue to see substantial opportunities for starch-based ingredients in Europe and Middle East markets, and, with these expansions, ADM will be well-positioned to meet growing customer demand across the region.
“By increasing production capacity and expanding our capabilities, we are ensuring that we will be able to offer our customers an expanded range of sweeteners and starches as sugar production quotas in the EU expire, and as demand from food and paper markets in Turkey and the Middle East continues to grow.”
The food processor said that it has been looking to smoothly integrate the three mills into its international corn business.
According to ADM, the corn wet mills produce a full range of starch products like liquid sweeteners, crystalline fructose and dextrose, and native and modified starches.
Apart from the European acquisitions, ADM also acquired a corn wet mill in Morocco in June.
ADM said that it is aiming to complete the corn wet mill projects in the first half of 2018.
Earlier in the month, ADM agreed to sell a minority stake of 19.9% in Australian agribusiness GrainCorp for AUD387m ($286m).
