ADM closing soybean processing plant in Kershaw, South Carolina
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Archer-Daniels-Midland (ADM) will permanently close its soybean processing plant in Kershaw, South Carolina, as part of a cost-cutting initiative. This decision follows a plan to reduce costs by $500 million to $700 million over three to five years. The closure is attributed to the plant no longer aligning with ADM's operational needs and comes amid rising trade tensions and uncertainty in the biofuels sector. ADM will assist affected employees in finding new jobs and provide severance, though the exact number of impacted workers remains undisclosed.
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