CHICAGO, US: Archer Daniels Midland Company (ADM) said that it has been granted exclusivity in relation to the proposed purchase of Chamtor, a French producer of wheat-based sweeteners and starches.
Chamtor, founded in 1992, produces glucose, starch and proteins from wheat. The company, which is currently owned by Vivescia Industries, is located in Reims, France, and has about 210 employees.
In 2015, ADM purchased full ownership of corn wet mills in Bulgaria and Turkey and a 50 percent stake in a wet mill in Hungary. Last year, the company acquired a sweetener and starch facility in Morocco and announced expansion plans for the Turkey and Bulgaria plants.
“Chamtor is located in the heart of the European wheat belt, and is perfectly positioned to efficiently serve Western European sweetener and starch customers, particularly in France, Germany, Belgium and the Netherlands,” said Pierre Duprat, president, ADM Europe, Middle East and Africa.
“One of the key elements of our strategy to grow shareholder value is the expansion and diversification of our global sweetener and starch capabilities. With our significant and growing footprint, we are looking forward to efficiently serving sweetener and starch customers throughout Europe,” added Chris Cuddy, president of ADM’s corn processing business.
© Worldofchemicals News
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