ADM to Sell Oilseed Operations in Bolivia
Archer Daniels Midland Company (ADM) said that it has reached an agreement to sell its oilseeds operations in Bolivia (South America) to Inversiones Piuranas SA. The sale includes ADM’s processing facility in Santa Cruz de la Sierra, as well as nine-grain silos and ADM’s Bolivian distribution business.
ADM’s oilseeds operations in Bolivia process soybeans and sunflower into oils and protein meal. ADM has approximately 400 employees in Bolivia.
The transaction is expected to close in the first half of 2018; until then, ADM will continue to operate its oilseeds business in Bolivia.
“We regularly review our portfolio, and the sale of our Bolivian Oilseeds operations is part of our long-term growth and transformation strategy,” said Greg Morris, president of ADM’s oilseeds processing business unit.
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