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News Release INTERNATIONAL
MALTING COMPANY BECOMES
WHOLLY-OWNED SUBSIDIARY OF ADM
Archer Daniels
Midland Company (NYSE: ADM) today announced that International Malting
Company (IMC) is now a wholly-owned subsidiary of ADM, after ADM completed
the purchase of Lesaffre’s 50% interest in IMC. ADM and Lesaffre Yeast
Corporation will continue their cooperation in the Red Star Yeast Company
joint venture. IMC was originally created as a joint venture in 1998 by ADM and Lesaffre. Today it has grown to become one of the world’s largest suppliers
of quality malt to the brewing, distilling and food industries. IMC operates
malt plants in “ADM looks forward to making the transition as seamless as possible for both its customers and employees,” said Steven Furcich, President of
IMC. “Going forward, customers can continue to expect the same high level of
quality, service and innovation from IMC.” “Lesaffre's
malt business has been an important part of our family and company
tradition,” added Patrick Lesaffre, Member and Vice Chairman of Lesaffre's
Supervisory Board. “I am
confident that ADM will maintain the quality and service that IMC is known
for, and continue its close association with the brewing industry around the
world.” Lesaffre, headquartered in
Archer Daniels Midland Company
(ADM) is a world leader in agricultural processing and fermentation
technology. ADM is one of the world’s largest processors of soybeans, corn,
wheat and cocoa. ADM is also a leader in the production of soybean oil and
meal, ethanol, corn sweeteners and flour. In addition, ADM produces
value-added food and feed ingredients. Headquartered in
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