CHICAGO--(BUSINESS WIRE)--ADM (NYSE: ADM) and LG Chem announced today that their previously announced projects for the production of lactic and polylactic acid will not move forward. “Since we originally announced our two joint ventures with LG Chem for lactic and polylactic acid in 2022, construction costs have skyrocketed,” said Chris Cuddy, president of ADM’s Carbohydrate Solutions business. “We looked at a variety of options, but when the time came to make final investment decisions, it had...
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