ADM Targets Acquisition of Elstar Oils

In a move that would strengthen its European oilseed processing, food manufacturing and biodiesel capabilities, Decatur, Ill.-based agribusiness giant Archer Daniels Midland Co. signed a public tender offer to purchase a majority share in Elstar Oils S.A., a Warsaw-listed company that specializes in the production of quality refined vegetable oils and fats for the food industry and biodiesel market. “Poland is an important origination and consumer market for ADM,” said Brent Fenton, president of ADM Europe. “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. The biodiesel plant will enable ADM to develop the biodiesel market in Poland and fits well within the company’s integrated business model.” Read More at BioDieselMagazine

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