Archer Daniels cuts jobs at Iowa plant
Archer Daniels Midland Co. is cutting 43 jobs at its polymer plant in Clinton, Iowa, eliminating half the facility's workforce after ending a joint venture with Metabolix Inc. of Cambridge, Mass.
The companies announced in January that the venture, which makes biodegradable plastics from corn sugar, would be dissolved in February.
ADM, based in Decatur, Ill., is ending the venture because of the costs and uncertainty about its returns.
ADM spokesman Kevin Moore says Friday that 46 employees will remain at the plant as the company works on preparing the facility for an idle period.
Moore says ADM is exploring its options and has not made any long-term decision for the plant, which is part of the company's corn processing complex in Clinton. ADM has about 1,000 employees in Clinton