Business

Archer Daniels Midland building $40 million feed facility

Posted November 03, 2016 1:00 am

Associated Press

CHICAGO - Archer Daniels Midland Co. says it plans to open a new, high-tech feed facility in western Illinois that will cost more than $40 million.

The Quincy Herald-Whig reports the company hopes to have the new production and warehouse space in use by mid-2018. ADM Animal Nutrition president Brent Fenton says the new plant will centralize ADM's Quincy facilities and let the company meet customer needs and increasing demand for certain products.

Company officials say the new facility will have more warehouse space, enhanced production capacity and automated packaging among other upgrades.

Local economic development officials said the plan means Chicago-based ADM is committing to the area for the future.

ADM recently reported its profits jumped 35 percent as record U.S. crop yields sent exports surging throughout the third quarter.

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