ADM and Aston Foods completed sweeteners and starches joint venture in RussiaStaff Writer | July 3, 2018
Archer Daniels Midland Company (ADM) and Russia-based Aston Foods and Food Ingredients have successfully received all required regulatory approvals and launched their 50-50 joint venture to provide sweeteners and starches to customers in Russia.
Russia ADM and Aston Foods got all required regulatory approvals
With the launch of the new joint venture, ADM and Aston will partner to own and operate Aston subsidiary AKP, which includes a corn wet mill in Ibred, as well as a sales office in Moscow.
Situated approximately 180 miles south east of Moscow, the Ibred plant is strategically located to serve major customers in the Russian food and beverage industry.
Effective from June 29, 2018, the joint venture will operate under the name AKP and will be managed as a standalone entity.
Its board will be made up of equal representation from the two parent companies. ADM and Aston’s other businesses in Russia will remain separate. ■