WASHINGTON (dpa-AFX) - Archer Daniels Midland Company (ADM) announced that it has reached an agreement to purchase Meiweiyuan Biotechnology Co., a privately held sweetener manufacturer near the city of Wuhan, in the central Chinese province of Hubei.
The proposed acquisition is subject to regulatory approval. ADM hopes to complete the transaction in the coming weeks.
ADM also announced that it has signed a memorandum of understanding with the government of Hanchuan County, Hubei Province, in which the government commits to supporting ADM's investment and its future expansion in the region.
Copyright RTT News/dpa-AFX