PEORIA, Ill. – Decatur-based Archer Daniels Midland’s facility in Peoria is being sold.
ADM says the Peoria Dry Mill plant has been sold to Texas-based BioUrja Group. The price wasn’t disclosed, but the companies say the sale should close in the coming weeks.
“The sale of our Peoria facility is an important element of the strategic review of our dry mill ethanol assets,” said Juan Luciano, ADM CEO, in a news release. “By reducing our ethanol capacity by 135 million gallons and redeploying the resulting capital to other strategic growth investments, we’re continuing the dynamic transition of ADM’s business portfolio that we began a decade ago.”
The good news: BioUrja says it will keep the 150 employees at the Peoria plant.
