Archer Daniels Midland to buy Fasco
The Associated Press reports that agricultural processor Archer Daniels Midland Co. will acquire Fasco Mills Co., a family-owned grain and feed company, expanding its presence in northern Illinois and increasing the flow of raw materials for its biofuel production. Financial terms of the purchase, which ADM expects to complete Sept. 1, were not disclosed. ADM processes soybeans, corn, wheat and cocoa and manufactures ethanol, biodiesel, soybean oil and meal, corn sweeteners and flour. Fasco operates 13 grain elevators in farm production areas of Illinois.