Belgium's Amylum made the first major privatization deal in Bulgaria by buying the unfinished enterprise, which today is part of the giant ADM
The enterprise in Razgrad produces starches, sweeteners and ethanol, and the usage of the products are expanding.
Today the company is part of the American giant Archer Daniels Midland (ADM), which has 94 billion dollars in sales in 2023, and operates under the name "ADM Razgrad". It is the largest single consumer of corn in Bulgaria and the second largest company in the Food and Drink industry with a turnover of BGN 1.2 billion for 2022. Customers of the products are all major food and drink manufacturers, and its main markets are in Europe.
With the investments made a few years ago, the capacity of the plant has been doubled and another product - ethanol - has been introduced into production.
The construction of the corn processing plant in Razgrad began in 1985, when the state enterprise "Corn Products" was established. After the changes in the late 1980s, its construction was stopped and the plant remained unfinished. In 1993, the enterprise was privatized by the Belgian company Amylum for $20 million, with the new owner investing another $45 million to complete construction. Production began the following year, and the plant was renamed "Tsaramil". In 1996, the name was changed to "Amilum Bulgaria".
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