Reims, France – 27 March 2017 – VIVESCIA Industries, specialist in cereal processing, is announcing that it has entered into exclusive negotiations with Archer Daniels Midland Company (ADM) in relation to the sale of its starch-glucose division.
This project is part of VIVESCIA Industries’ mission of value creation and demonstrates its strategy to ensure that each of its companies achieves a leading position on its market as well as a profitable growth. A growth that is attainable through significant investments in its strategic activities or divestments in areas that would achieve better long-term development as part of a market leader.
Chamtor has developed an acknowledged expertise that successfully positioned it on the starch products market in Western Europe. Previously, its modest size limited its growth prospects, but by joining a leading company in this sector, it would strengthen its competitiveness and benefit from the necessary financial support for its industrial and commercial development.
VIVESCIA Industries has selected the project of the American company ADM, one of the world’s largest agricultural processors and food ingredient providers for food, animal feed, industrial and energy uses. Leader on the American starch and glucose market, ADM displays a strong ambition for the development of this sector in Europe.
In addition to the 2015-2016 acquisition of several processing units in Bulgaria, Hungary, Turkey and Morocco, the French facilities would be ADM’s only wheat-based production unit in Western Europe. Thus, Chamtor would be positioned at the heart of ADM’s strategy for geographical expansion and product diversification.
For Alain Le Floch, CEO of VIVESCIA Industries, “This operation would open strong future prospects to Chamtor and provide VIVESCIA Industries with additional resources to further its development on its strategic markets (distillery and brewery ingredients, bakery products, baking ingredients)”.
This project is subject to the standard procedures of information and consultation of Chamtor employees’ representative bodies, to the signing of the definitive agreement and to the approval from the competition and regulatory authorities.