US agribusiness Archer Daniels Midland (ADM) completed its acquisition of a controlling interest in Israeli feed product importer and distributor Industries Centers on 19 July.
Industries Centers – which will be renamed ADM Israel – trades corn byproducts and other grain products and operates a 45,000 tonne storage facility at the Port of Ashdod, 40km south of Tel Aviv city where the company is headquartered.
“This is a great opportunity for us to reach new customers with a wide array of products, from soybean meal to grains to feed ingredients,” ADM Agriculture Services president Joe Taets had said when the acquisition was first announced in May.
In a statement on 19 July, Taets added that the acquisition was part of ADM’s strategy to expand its global origination and distribution network into new areas, together with growing its capability to deliver products worldwide.
“From our Medsofts joint venture to our ports on the Black Sea to our new venture here in Israel, we are committed to enhancing our global origination and logistics capabilities.”