ADM is "optimistic" on ethanol, expands production capacity

02/2/2010 | Reuters ·

Archer Daniels Midland's bioproducts division posted a $230 million increase in quarterly net earnings because of improved ethanol margins and higher sales volumes. The company is increasing production at a recently constructed ethanol plant in Columbus, Neb., and will begin production this summer at a facility in Cedar Rapids, Iowa. "We have an optimistic view of the ethanol business or we wouldn't be building the capacity," CEO Patricia Woertz said.

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