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ADM Announces Chinese Crush Plans (Monday, March 31, 2003 -- CropChoice news) -- DTN Ag News: Archer Daniels Midland Company announced it is constructing a soy processing facility in Shanhaiguan, China, in partnership with Wilmar Holdings. The facility will produce ADM's exclusive Arconr line of soy protein concentrates, specialty soy flour for soy sauce fermentation and whole edible soybeans, the company said in a news release.
"The construction of this facility strategically enhances our position in fulfilling the region's need for both animal and vegetable proteins," stated Brian Peterson, Senior Vice President of Corporate Affairs. "Our Arconr functional soy protein concentrates will offer Chinese and other Pacific Rim meat processors functional value unsurpassed by any other vegetable protein source available." Construction is expected to be completed by mid-2004.
Headquartered in Singapore, Wilmar Holdings is a leading processor, merchandiser and distributor of edible oils, oilseeds and related products in Asia and also sources and markets these products globally.
It's interesting to see new crush facilities opening in China when U.S. plants are closing. One private analyst suggested to DTN that the changes reflect stagnated growth in US animal numbers, along with robust growth in the Chinese economy. | |
