Archer Daniels Midland and LG Chem Scrap Collaborations Amid Cost Challenges

Friday, 12 July 2024, 16:42

Archer Daniels Midland (ADM) and LG Chem have decided to cancel their joint ventures due to the significant surge in construction costs. The collaborations were aimed at producing materials for plant-based products like bioplastics. High construction expenses have led both companies to terminate the projects, impacting the future of sustainable material production.
Seeking Alpha
Archer Daniels Midland and LG Chem Scrap Collaborations Amid Cost Challenges

ADM and LG Chem Cancel Joint Ventures

Archer Daniels Midland (ADM) and LG Chem have decided to cancel their joint ventures due to the surging construction costs.

High Construction Costs Cited

Both companies have cited the high costs as the primary reason behind the termination of collaborations.

  • Material Production for Plant-based Products: The joint ventures were planned to produce materials for innovative plant-based products like bioplastics.
  • Impact on Sustainability: The cancellation of these projects raises concerns about the future of sustainable material production.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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