ADM and PYCO Industries to launch cottonseed processing joint venture in Texas

ADM (NYSE: ADM), a global leader in innovative solutions from nature, and PYCO Industries, Inc., a leader in the local agricultural communities it serves, announced that they have signed an agreement to launch a joint venture combining their Lubbock, Texas, cottonseed processing capabilities.

The new joint venture will be majority-owned by PYCO and governed by a 6-member board with equal representation from ADM and PYCO. ADM and PYCO will each contribute their Lubbock-based processing facilities to the new company.

"ADM is continuing to deliver on opportunities for strategic simplification across its global footprint," said John Grossmann, president of ADM's North American Ag Services and Oilseeds business. "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."

"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," said PYCO president Robert Lacy. "This joint venture will help to drive a stable, sustainable foundation for our Lubbock business for our owners and downstream customers alike."

The companies intend to complete the transaction and formally launch the joint venture in the third quarter of 2025.