Golden Peanut and Tree Nuts to Upgrade, Modernize Argentina Plant
Golden Peanut and Tree Nuts, a subsidiary of Archer Daniels Midland Company (NYSE: ADM), today announced that it is investing in a significant upgrade to its peanut processing facility in Alejandro Roca, Cordoba, Argentina. The upgrade plans include the addition of an in-house blancher and the construction of a cold storage warehouse.
“We’re continuing to upgrade our capabilities to serve customers in Argentina and Europe,” said Carlos Urquiza, president and general manager of Golden Peanut and Tree Nuts’ operations in Argentina.
“An in-house blancher and onsite cold storage will enhance both peanut quality and peanut life at our Alejandro Roca facility. Combined with the new storage facility that we announced in January, the result will be substantially enhanced capabilities for Golden Peanut and Tree Nuts in Argentina–from more efficient unloading to the very highest quality products for our customers, both locally and in the EU markets that we serve from Argentina.”
The project will break ground in June 2017, and is expected to be complete in April 2018.
Golden Peanut and Tree Nuts, one of the world’s premier handlers and processors of peanuts and tree nuts, has announced or completed a wide range of significant expansion and improvement projects across its global network in the last year, both in the United States and in its international operations.
“We are committed to remaining the provider of choice for peanut and tree nut customers around the globe,” said Greg Mills, president, Golden Peanut and Tree Nuts. “Our customers expect the very best from Golden Peanut and Tree Nuts, and we are investing in our business to ensure we live up to those expectations.”
Suppliers or customers with questions about the Argentina facility should contact Greg Mills at (770) 752-8225.
Source: : http://www.adm.com/en-US/news/_layouts/PressReleaseDetail.aspx?ID=801
The bulls were again winners in an exciting week for longs and producers. In last week’s report, I said the markets bias would be near unchanged to a bit lower.