ADM and PYCO Industries have announced a joint venture to combine their cottonseed processing operations in Lubbock, Texas. The new venture will be majority-owned by PYCO and managed by a six-member board with equal representation from both companies.
John Grossmann, president of ADM's North American Ag Services and Oilseeds business, stated, "ADM is continuing to deliver on opportunities for strategic simplification across its global footprint. Bringing together these two cottonseed processing operations in Lubbock will allow us to continue to serve customer needs while offering opportunities for enhanced operational efficiencies."
Robert Lacy, president of PYCO, commented, "PYCO is actively pursuing strategies to enhance our competitiveness for our members, while ensuring our customers have consistent access to the products critical to their business. This joint venture will help to drive a stable, sustainable foundation for our Lubbock business for our owners and downstream customers alike."
The transaction is expected to be completed in the third quarter of 2025.