August 15, 2011
ADM to buy majority share in Elstar Oils
ADM, a major grain processor worldwide, has agreed to acquire a majority stake in a rapeseed processing and biodiesel company Elstar Oils SA in Poland.
The Decatur, Illinois, company did not disclose purchase terms for Elstar, of northern Poland, which also manufactures refined vegetable oils and fats for
food companies.
"Poland is an important origination and consumer market for ADM. Elstar's location in the heart of a rapeseed-growing region, with easy access to the ports of Gdansk and Gdynia, complements our existing presence in the region and will enable ADM to further strengthen its position in Eastern Europe," said Brent Fenton, president of ADM Europe. "The biodiesel plant will enable ADM to develop the biodiesel market in Poland and fits well within the company's integrated business model."
Elstar operates a rapeseed crushing, refining, solid-fat packaging and oil bottling facility in Czernin, Poland, and a fully automated biodiesel plant in Malbork, Poland.
The deal is subject to approval by antitrust authorities.