Two Lubbock cottonseed processing centers have announced a joint venture coming soon.
ADM and PYCO, both companies with cottonseed centers in Lubbock, have signed documents to combine their capabilities in a joint venture, according to a news release. ADM operates on a global scale, while PYCO is a cooperative of member-owners.
“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,” said John Grossmann, president of ADM’s North American Ag Services and Oilseeds business.
The venture is expected to formally launch in the third quarter of 2025. It will be majority-owned by PYCO and led by a six-member board of ADM and PYCO representatives.
“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 Robert Lacy, PYCO president. “This joint venture will help to drive a stable, sustainable foundation for our Lubbock business for our owners and downstream customers alike.”
More details will be given closer to the launch.
Alana Edgin writes about business for the Lubbock Avalanche-Journal. Got a news tip? Contact her via email at aedgin@lubbockonline.com.
This article originally appeared on Lubbock Avalanche-Journal: Lubbock cottonseed processing centers announce joint venture
Reporting by Alana Edgin, Lubbock Avalanche-Journal / Lubbock Avalanche-Journal
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