Reported about 12 hours ago
Archer-Daniels-Midland (ADM) has announced the permanent closure of its soybean processing plant in Kershaw, South Carolina, as part of a cost-cutting strategy aimed at reducing expenses by $500 million to $700 million over the next few years. This decision follows a broader industry trend of consolidation amidst rising trade tensions and challenges in the biofuels sector. The Kershaw facility, the smallest of ADM's U.S. soybean processing plants, will cease operations later this spring, with the company offering assistance and severance to its employees.
Source: YAHOO