ADM Announces Plans to Build a Polyols Facility
Tuesday November 22, 6:00 pm ET
ADM in a Unique Competitive Position to Produce Polyols From Renewable Resources
DECATUR, Ill., Nov. 22 /PRNewswire-FirstCall/ -- Archer Daniels Midland Company announced today plans to build a polyols facility that will utilize renewable carbohydrate-based and/or glycerol-based feedstocks. The Company's planned polyols plant will produce propylene glycol and ethylene glycol from agricultural-based resources as an alternative to traditional petroleum-based industrial chemicals.
"ADM's past experience with polyols and our access to carbohydrate-based and glycerol-based feedstocks provide us an unique advantage to producing pharmaceutical and industrial grade polyols," stated ADM Chairman and Chief Executive, G. Allen Andreas. "By looking to agricultural raw materials, ADM can economically produce products, like propylene glycol and ethylene glycol, from renewable resources and do so in a manner that is preferable to the traditional petroleum-based process."
Propylene glycol primarily is used in industrial applications such as paints, coatings and resins, and also is used in food and pharmaceutical applications. Ethylene glycol is used to produce polyesters and industrial products.
ADM is in the process of selecting a site for the polyols plant and construction will be dependent upon final permit approvals.
Archer Daniels Midland Company (ADM) is a world leader in agricultural processing. ADM is one of the world's largest processors of soybeans, corn, wheat and cocoa. ADM is also a leader in the production of soy meal and oil, ethanol, corn sweeteners and flour. In addition, ADM produces value-added food and feed ingredients. Headquartered in Decatur, Illinois, ADM has over 25,000 employees, more than 250 processing plants and net sales for the fiscal year ended June 30, 2005 of $35.9 billion. Additional information can be found on ADM's Web site at http://www.admworld.com.
Archer Daniels Midland Company
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