Archer-Daniels-Midland (ADM) will permanently shut down its soybean processing plant in Kershaw, South Carolina, USA, later this spring, the company confirmed Monday.
The closure is part of a broader plan announced in February to reduce costs by $500 million to $700 million over the next three to five years. ADM has been cutting jobs and scaling back operations as part of this effort.
“After exploring a wide variety of alternatives, we’ve determined that our Kershaw crush plant no longer aligns with our future operational needs,” ADM spokesperson Dane Lisser said.
The Kershaw facility is ADM’s smallest soybean processing plant in the USA, with a daily capacity of 50,000 bushels. It is the first US soybean plant to close after years of expansion driven by demand from the biofuels industry, which has recently slowed due to policy uncertainty and trade tensions.
ADM said it will assist affected workers with job placement and offer severance to those who leave. The South Carolina Department of Commerce reported the plant employed between 11 and 50 people.
The company continues to face pressure after an accounting investigation in 2023 impacted its financial standing and share price. ADM is also navigating growing trade friction with key partners, including China.