07 February 2012 16:20 [Source: ICIS news]
HOUSTON (ICIS)--Archer Daniels Midland (ADM) confirmed on Tuesday that it would permanently close its 30m gal/year (114m litres/year) ethanol plant in Walhalla, North Dakota, because of poor returns and difficulty competing in the marketplace because of its geographic location.
The company said the closure will not affect its ability to supply customers with ethanol and feed production and will help to improve its US corn processing operations.
ADM added that it would offer severance packages to the 61 employees affected by the closure, and there may be opportunities for them at other ADM facilities.
After the closure, ADM’s US ethanol production capacity will be about 1.72bn gal/year.
ADM spokesperson Jessie McKinney added the company currently has no plans to close additional facilities.
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