The Hardest-Working Paper in America | 
Tuesday, April 23, 2024
Business

ADM completes sale of South American fertilizer business

By  Bill Ruminski
   
SHARE ADM completes sale of South American fertilizer business
archer_daniels_midlan_newm.jpg

AP file photo

Archer Daniels Midland Co. has completed the $350 million sale of its South American fertilizer business.

The sale to The Mosaic Co., announced in April, include five blending facilities in Brazil and Paraguay. The purchase price includes $150 millon in working capital.

“The completion of this sale is an important part of our ongoing portfolio management,” ADM chairman and CEO Patricia A. Woertz said in a statement. “At the same time, we look forward to continuing to partner with growers in that important region through our grain origination and fertilizer distribution network.”

Chicago-based ADM will buy fertilizer from Mosaic and supply certain fertilizer customers in Brazil and Paraguay under terms of the transaction.

Next Up In Business
Netflix looks to curb password sharing, considers ads
Food packager plans to build a new plant, add jobs on the South Side
Putin’s pollock: U.S. seafood imports fuel Russian war machine
Democrat Giannoulias in the driver’s seat in race for campaign cash in hotly contested secretary of state contest
New HIRE360 small-business development center receives $3 million investment
Chicago casino sites gain critics on the City Council
The Latest
Luis Huesca
Crime
Off-duty killing of Chicago Police Officer Luis Huesca announced as line-of-duty death on his 31st birthday
In a letter to department members on Tuesday, Police Supt. Larry Snelling described Huesca as “a kind spirit who cared deeply for his family, friends, and our city.”
By Tom Schuba
 
Small Business
Dom's Kitchen and Foxtrot abruptly shutter stores, months after specialty grocers merged
The store closings started Tuesday morning and include two Dom’s Kitchen sites and 33 Foxtrot locations.
By Abby Miller and Isabel Funk
 
Education
City announces $5 million fund for students with disabilities
The Diverse Learners Recovery Fund, launched through a partnership with the city and Ada S. McKinley Community Services, will provide up to 8,000 families with one-time grants of $500.
By Sophie Sherry
 
Moroccan Chicken Skewers With Apricots and Onion
Recipes
Moroccan chicken skewers burst with flavors from spices and apricots
This recipe relies on a heady blend of North African spices muddled with oil, lemon and runny honey to create a soupy, fragrant paste.
By Lynda Balslev | Taste Food
 
IMG_0836 2.jpeg
Columnists
An empty chair at Passover Seder, affixed with a picture of a hostage
The continuing bloody war in Gaza — the 33,000 Palestinians killed and the unknown fate of Israeli hostages — casts a pall over Passover celebrations.
By Neil Steinberg