ADM and CVA Form Joint Venture to Build Shuttle Loader Grain Elevator near Randolph, Neb.
Facility to link local crops to domestic and global markets
RANDOLPH, Neb. – Archer Daniels Midland Company (NYSE: ADM) and Central Valley Ag Cooperative (CVA) announced today the formation of 81-20 Grain Terminal, LLC, a joint venture to construct a 5 million bushel shuttle loader grain elevator near Randolph, Neb. The elevator will originate corn and soybeans from regional farmers, primarily for transportation by 110-car BNSF shuttle trains to export markets via the U.S. Gulf Coast, Pacific Northwest and Southwest.
ADM and CVA will each own 50 percent of the grain facility, which will feature two receiving pits and one rail receiving pit—each capable of dumping 20,000 bushels of grain per hour. The facility will be located at the intersection of U.S. Highway 20 and U.S. Highway 81 three miles west of Randolph and is expected to begin operating by fall 2014.
“This joint venture is another example of ADM investing to serve growing global demand for agriculture,” said Joe Taets, president, ADM Agricultural Services. “We look forward to working with CVA and producers in the area to make the most of their farming operations. The new elevator—along with our global transportation fleet and network of customers—will provide additional marketing opportunities for regional producers, which can help add value to their crops.”
Pierce County—in which the elevator will be located—along with surrounding Cedar, Knox and Wayne counties have all seen corn and soybean production increase dramatically since 2000. The facility’s location at the intersection of two major highways will provide the area’s producers with convenient access.
“Enhancing the ability of member-owners to link to greater global marketing and transportation opportunities is what makes this joint venture so exciting,” stated Doug Derscheid, president and CEO of CVA. “At CVA, we leverage our expertise and high-speed facilities to meet local grain producers’ harvest and post-harvest storage and marketing needs. Through this joint venture, ADM will connect those local producers to a vast national and global network.”
For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve vital needs. Today, 30,000 ADM employees around the globe convert oilseeds, corn, wheat and cocoa into products for food, animal feed, industrial and energy uses. With more than 270 processing plants, 420 crop procurement facilities, and the world’s premier crop transportation network, ADM helps connect the harvest to the home in more than 160 countries. For more information about ADM and its products, visit www.adm.com.
Established in 2003, Central Valley Ag (CVA) is a member-owned farmers cooperative located in central and northeastern Nebraska. CVA has 365 employees that provide agronomy, grain and feed services to over 10,000 farmers and ranchers. With 25 grain facilities that hold over 45 million bushels of grain, CVA continues to add speed and space—positioning the company to meet the ever-changing needs of member-owners and furthering a commitment to provide superior facilities, services, and expertise.
CVA continues to recommit to unmatched customer service and reinvest in commodities growth initiatives, new facilities, strategic partnerships, cutting-edge technology and top talent to chart an opportunistic and aggressive path towards future growth. For more information about CVA and its products and services, visit www.cvacoop.com.
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