USA: International Malting Co. not purchased, but changes may be in the works

Reports that The International Malting Co. has a new owner aren't exactly true. But changes may be in the works, according to an attorney for Lesaffre and IMC.

The International Malting Co., the Milwaukee-based company that owns the malt plant and similar operations in other states, has two owners: The Lesaffre International Corp. and Archer Daniels Midland, the U.S. agri-giant based in Decatur, Ill. The two are each half owners, although Lesaffre is the managing partner.

"That's been the case throughout this project," said Chris Kaltenbach, an attorney for Lesaffre and IMC. "There are discussions on-going among the shareholders about changing that structure. But nothing has been agreed upon or finalized."

Earlier this month E-Malt.com said that ADM is buying out Lesaffre, leaving the France-based company to focus on its yeast business.

Recent local talk has ADM undertaking an expansion of some sort at the Great Falls plant. Expansion would be good economic news and likely more meaningful than a change of ownership alone.

27 September, 2006