The new Madrid office complements Olam Agri’s existing Barcelona operation, its first base in the country and the starting point of its Spanish business.
The facility is expected to process 80 million bushels of soybeans annually, producing about 1 billion pounds of soybean oil and 2 million tons of soybean meal.
The multifunctional silo comprises a 12,000-cubic-meter silo system and a modern hydrothermal processing plant for oilseeds, including soybeans and rapeseed.
The acquisition builds on Novonesis’ 2013 investment in MicroBioGen and its existing 23% ownership stake.
Company completes spin-off of seed business, well positioned to advance its robust pipeline with 12 new actives, including 5 biologicals, for launch in the next decade.