In an attempt to meet rising global demand for probiotics, postbiotics and other health-supporting products, ADM (NYSE: ADM), a provider of science-backed nutrition solutions, announced the opening of a new production facility in Valencia, Spain.
The $30 million production facility is expected to help the company increase its production capacity at least five-fold to 50 metric tons per year.
The new facility is to enable ADM to supply expanding markets for probiotics and postbiotics in the United States, Europe and the Asia-Pacific region, as it anticipates its client base to more than triple over the upcoming five years.
ADM seeks to bolster its health and wellness revenue from more than $500 million in 2022 to $2 billion over the next 10 years.
“Health and well-being is one of the three enduring trends powering ADM’s growth strategy: Consumers are increasingly aware of the role their gut microbiome can play in their everyday lives, and they’re seeking nutrition solutions that are backed up by science-based research,” Mark Lotsch, President, Global Health & Wellness, said in a press release.
“ADM is a leader in meeting this growing global demand, and we’re continuing to invest in the cutting edge of health and nutrition.”
The shares of Archer Daniels Midland Co (ADM) closed 0.34% ($0.28) higher at $82.56 in New York on Monday, with the company’s total market cap now standing at $45.17 billion.
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