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Wikipedia

ADM (company)

January 01, 1970

Not to be confused with AMD.

The Archer-Daniels-Midland Company, commonly known as ADM, is an American multinational food processing and commodities trading corporation founded in 1902 and headquartered in Chicago, Illinois. The company operates more than 270 plants and 420 crop procurement facilities worldwide, where cereal grains and oilseeds are processed into products used in food, beverage, nutraceutical, industrial, and animal feed markets worldwide.

Archer-Daniels-Midland Company
Headquarters in Chicago
ADM
Company typePublic
Industry
Founded1902; 122 years ago (1902) in Minneapolis, Minnesota, U.S.
Founders
Headquarters77 West Wacker Drive
Chicago, Illinois, U.S.
Key people
Juan Luciano
(Chairman and CEO)
Products
ServicesFlour milling
Revenue US$93.9 billion (2023)
US$3.48 billion (2023)
Total assets US$54.6 billion (2023)
Total equity US$24.1 billion (2023)
Number of employees
41,802 (2023)
SubsidiariesAmerican River Transportation Company
Websiteadm.com
Footnotes / references
[1]
Logo variant used in the corporate website
Former corporate logo

ADM ranked No. 35 in the 2023 Fortune 500 list of the largest United States corporations.[2]

The company also provides agricultural storage and transportation services. The American River Transportation Company along with ADM Trucking, Inc., are subsidiaries of ADM.

ADM has been the subject of significant media attention and infamy over the years with its various scandals, one inspiring a novel and subsequent film The Informant!.

History edit

Early history edit

In 1902, John W. Daniels started a linseed crushing business in Minneapolis, Minnesota.[3][4][5] George A. Archer joined the operation the next year, and in 1905 the firm's name officially became the Archer-Daniels Linseed Company.[3][6] In 1923, Archer-Daniels Linseed Company acquired Midland Linseed Products Company and then incorporated as the Archer Daniels Midland Company.[7][8] The new corporation had total assets exceeding $11 million and controlled just over a third (35%) of the total linseed mill capacity within the United States.[9][7]

In 1924, ADM was listed on the New York Stock Exchange.[10][11][12] A series of acquisitions over the next several years expanded the company's oil processing capabilities and agricultural operations, and a grain division was established in 1927.[13][14] In 1930, ADM purchased control of the flour milling company Commander-Larabee Corp., which was capable of producing 32,000 barrels of flour per day.[15][16][17] In 1934 the company began operating its first continuous solvent extraction plant in Chicago, Illinois and could now produce soybean oil.[14][18] The rapid development of similar extraction plants soon followed.[18]

By 1952, Archer Daniel Midland's workforce had expanded to 5,000 employees,[19] and by 1952 the company was operating overseas and manufacturing over 700 products.[20]

In 1962, the company acquired a trademark for "ADM" and began referring to itself by those initials.[21] In 1965, ADM registered the original patent for textured vegetable protein and began producing the soy flour product at its Decatur East Plant by 1966.[22][23]

In 1966, Dwayne Andreas and his brother Lowell Andreas became minority shareholders in ADM.[24] In 1969, ADM relocated its headquarters from Minneapolis to Decatur, Illinois, a location closer to the company's soybean processing operations.[25][26] At this time, it was already considered one of the world's largest agribusiness company, with a labor force of more than 24,000 employees.[27]

Dwayne Andreas period (1970–1997) edit

Dwayne Andreas was named CEO of ADM in 1970,[4] and two years later was elected chairman of the company's board.[28] Under his leadership, Archer Daniels Midland acquired many smaller agricultural companies and expanded into international markets,[29] eventually becoming one of the world's largest agricultural processing companies.[4][30] During this period, the company's soybean exports increased from $1.5 billion to $7 billion.[4][31]

Chief executive officers
Started Name
1970 Dwayne Andreas
1997 G. Allen Andreas
2006 Patricia A. Woertz
2015 Juan Luciano

In 1974, ADM made its first expansion into Europe and South America when the company acquired soybean plants in Holland and Brazil.[32][8]

In 1982, ADM established international grain operations when it purchased a portion of Toepfer International, a Germany-based grain trading firm.[33]

In 1989, ADM purchased Collingwood Grain Inc. based in Hutchinson Kansas, adding 48 million bushels of grain storage at 36 terminal elevators.[34] Dwayne Andreas stepped down from his position as CEO in 1997 and was succeeded by his nephew G. Allen Andreas.[35] The transition occurred a year after the company pleaded guilty to price-fixing.[30][29]

2001–present edit

In 2001, Paul B. Mulhollem became the company's president.[36] In December 2001, ADM completed the first U.S. commercial sale to Cuba since the embargo was imposed in October 1960.[37] The next year ADM sponsored a major agribusiness show in Havana, where the company signed a $10 million contract with Cuba’s food import agency, Alimport, to deliver rice, cooking oil, and soy.[37]

In March 2006, G. Allen Andreas announced he was stepping down as CEO.[38] Later, in May 2006, Patricia A. Woertz became the company's chief executive officer.[39] In February 2007, Woertz was elected chairman of the board at ADM.[40] In 2012, the company sought to acquire strategic holdings to support serving Asian markets through the acquisition of GrainCorp, an Australian grain firm with a network of storage and port facilities in Australia.[41] On November 28, 2013, the acquisition was blocked by the Australian Treasurer Joe Hockey after Australia's Foreign Investment Review Board failed to reach a consensus recommendation.[41]

The company moved its headquarters to Chicago in 2014.[42]

That same year, ADM completed its acquisition of Toepfer International, Germany's largest grain trader, and renamed the company ADM Germany GmbH.[43] The company also announced that it would buy Swiss-German natural ingredient company Wild Flavors for $3 billion, a move aimed at expanding ADM into health-oriented food sectors.[44]

ADM announced the appointment of current CEO Juan R. Luciano on November 5, 2014.[45] Luciano initially joined the company in 2011 as chief operating officer.[39] Under Luciano's leadership, the company restructured its business segments and pursued an aggressive strategy of acquisitions that expanded its human and animal nutrition business.[46] In October 2015, ADM announced the sale of its global cocoa business to Olam International. The sale was valued at about $1.2 billion.[47] Approximately 1,500 employees transferred to Olam with the sale.[48] In January 2017, ADM agreed to sell its crop risk services (insurance) unit to Validus Holdings for $127.5 million.[49]

In October 2016, ADM launched its venture capital arm, ADM Ventures, which focused initially on alternative proteins.[50]

The Wall Street Journal reported in January 2018 that ADM had approached Bunge Ltd. about a takeover, with details "unclear" at the time.[51] At that point, Bunge had a market value of about $9.8 billion, and was also being pursued by Glencore PLC for acquisition, since May 2017.[52] In January 2019, Juan Luciano clarified the company didn't need a "monster transformational transaction" and a deal was never made.[53]

In March 2018, ADM restructured its business segments into four units: carbohydrate solutions, nutrition, oilseeds, and origination or ag services.[54] The next year, the company announced it was consolidating the ag services and oilseed units.[55]

In September 2021, ADM acquired a 75% stake in four pet food companies for a total of $450 million, including PetDine, Pedigree Ovens, NutraDine, and The Pound Bakery.[56] Later that year in November, ADM acquired Serbian soy agribusiness Sojaprotein,[57] and completed its acquisition of Deerland Probiotics & Enzymes.[58]

In 2022, ADM saw rising profits due to the war in Ukraine and the global food crisis.[59]

Environmental record edit

See also: Gran Chaco § Conservation issues

The company has been the subject of several major federal lawsuits related to air pollution. In 2001, it agreed to pay a $1.46 million fine for violating federal and Illinois clean-air regulations at its Decatur feed plant and to spend $1.6 million to reduce air pollution there.[60] In 2003, the company settled federal air pollution complaints related to its efforts to avoid New Source Review provisions of the Clean Air Act that require pollution control upgrades when a plant is modernized. The company paid $4.5 million in penalties and more than $6 million to support environmental projects. In addition, ADM agreed to eliminate more than 60,000 tons of emissions of carbon monoxide, particulate matter, volatile organic compounds, and other pollutants from 42 plants in 17 states, at a cost of hundreds of millions of dollars.[61]

Carbon footprint edit

ADM reported Total CO2e emissions (Direct + Indirect) for the twelve months ending December 2022 at 15,630 Kt (-370 year over year).[62] In April 2020, ADM announced that by 2035, the company intends to have reduced its greenhouse gas emissions by 25%, and its energy intensity by 15%.[63]

Archer-Daniels-Midland Company's annual Total CO2e Emissions - Location-Based Scope 1 + Scope 2 (in kilotonnes)
Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Dec 2022
17,471[64] 17,363[65] 17,800[66] 16,230[67] 16,000[68] 15,630[69]

Underground CO2 storage edit

The American Recovery and Reinvestment Act of 2009, the economic stimulus package developed in response to the Great Recession, included a $3.4 billion allocation for the Department of Energy's office of fossil fuel, the majority of which was slated for the Industrial Carbon Capture and Storage (ICCS) program.[70] Through this ICCS initiative,[71] the Department of Energy co-sponsored two large-scale capture and storage projects at ADM facilities in Illinois.[72] These projects were intended to test the feasibility of underground disposal of carbon dioxide emissions.[73]

In November 2011, the first of these projects, the Illinois Basin - Decatur Project (IBDP), began operation.[74] The project involved injecting carbon captured at an ADM biofuel facility into Mount Simon Sandstone, a saline reservoir.[73] This project was carried out by the Midwest Geological Sequestration Consortium at the University of Illinois.[73] The Department of Energy provided $66.7 million in funding, with other funding coming from private partners.[75]

After three years of injection, it was determined that the sandstone was accepting CO2 in an easier fashion than was originally expected.[75] In 2017, operations began on a larger project, the Illinois Industrial Carbon Capture and Storage Project (IL-CCS),[76] which again involved injecting carbon into Mount Simon Sandstone, but this time at a different location and at a much higher volume.[77] Whereas the first project involved injecting one million tons of carbon underground over three years, the IL-CCS project involved storing that same amount in only one year.[77] The Department of Energy contributed $141 million to the project, while the private sector cost share amounted to over $66 million.[78] Other partners included Richland Community College and the Illinois State Geological Survey.[78]

In November 2020, Investigate Midwest reported that the Illinois Industrial Carbon Capture and Storage Project had not reached its milestone of one million tons stored and had only stored approximately half that amount, and that carbon emissions from the Decatur facility had actually increased from 4.2 million tons of carbon dioxide in 2016, the year before the project launched, to 4.4 million in 2019.[79] The United States Department of Energy responded that the agency wasn't concerned about the project reaching the stated goals, as ADM successfully demonstrated that the storage technologies work and could be utilized for future projects.[79]

In August 2021, ADM announced that its US flour milling operations had achieved net carbon neutral status, in part due to the Decatur capture and storage project.[80]

In March 2023, the Decatur City Council voted unanimously to allow ADM to expand its carbon sequestration program onto city land,[81] with the company paying the city $450 per acre of land.[82] The agreement enabled ADM to inject liquified carbon dioxide into "pore space" 1.25 miles under land owned by the city of Decatur.[82]

Regenerative agriculture edit

In September 2022, PepsiCo and ADM established a partnership on regenerative agriculture projects that would increase the practice across their North American supply chains and help the companies meet carbon reduction goals.[83] In July 2023, ADM launched an expansion of the program, which offers producers financial incentives and technical support to implement regenerative practices.[84] As of December 2023, the company had allocated nearly 2 million acres of land within its supply chain for the program.[85]

Products edit

Products include oils and meal from soybeans, cottonseed, sunflower seeds, canola, peanuts, flaxseed, Palm kernel, and DAG oil, as well as corn germ, corn gluten feed pellets, syrup, starch, glucose, dextrose, crystalline dextrose, high fructose corn syrup sweeteners, chocolate, ethanol, and wheat flour. End uses are consumption by people, livestock, and additives for fuel. In January 2008, ADM signed a three-year memorandum of understanding with Daimler AG and Bayer CropScience to explore the use of jatropha as a feedstock for biofuel.[86][87] Natural flavors were added to ADM's product portfolio with the 2014 acquisition of Wild Flavors[88] and vanilla products were added through the acquisition of Rodelle in 2018.[89]

Long known as a food and ingredients company, it has also invested in fuel production. ADM nearly doubled capital spending in its 2007 budget to an estimated $1.12 billion. The increase is planned for bioenergy projects, focusing on bioethanol and biodiesel.[90]

Oilseeds processing edit

The oilseeds processing segment includes global activities related to the origination, merchandising, crushing, and further processing of oilseeds such as soybeans and soft seeds (cottonseed, sunflower seed, canola, and flaxseed) into vegetable oils and protein meals.[91]

The first quarter of 2020, during the COVID-19 pandemic, saw the operating profit of Ag Services and Oilseeds (ADM's biggest revenue segment) rise $422 million, or 1.2%.[92]

Corn processing edit

ADM's corn processing segment is engaged in corn wet milling and dry milling activities, with its asset base primarily located in the central part of the United States. The Corn Processing segment converts corn into sweeteners and starches, and bioproducts. Its products include ingredients used in the food and beverage industry including sweeteners, starch, syrup, glucose (dextrose). Dextrose and starch are used by the Corn Processing segment as feedstocks for its bioproducts operations.[91] In 2021, ADM was ranked second on the Top 50 Global Sweetener Companies list by FoodTalks.[93]

Agricultural services edit

 
ADM mix plant

ADM's agricultural services segment uses its U.S. grain elevator, global transportation network, and port operations to buy, store, clean, and transport agricultural commodities, such as oilseeds, corn, wheat, milo, oats, rice, and barley, and resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry.[91]

Investor services edit

ADM investor services, Inc. is a registered futures commission merchant and a clearing member of all principal commodities exchanges in the U.S. ADM Investor Services International, Ltd., a member of commodity exchanges and clearing houses in Europe, and ADMIS Hong Kong Limited, offer broker services in Europe and Asia.[91]

Scandals edit

Sherman antitrust violation edit

In 1920 the US Department of Justice brought suit against the National Linseed Oil Trust for violating the Sherman Antitrust Act. Several co-defendants were named, including the Archer-Daniels Manufacturing Company. The suit alleged all of these companies were acting in collusion to raise prices, citing a spike in linseed oil costs between 1916 and 1918, when the price rose from $.50 per gallon to $1.80.[94]

Price fixing edit

See also: Lysine price-fixing conspiracy

In 1993, the company was the subject of a lysine price-fixing investigation by the U.S. Justice Department. Senior ADM executives were indicted on criminal charges for engaging in price-fixing within the international lysine market. In a tape played at the trial, ADM's President said that a single phrase inspired the company: "Our competitors are our friends. Our customers are the enemy."[95] Three of ADM's top officials, including vice chairman Michael Andreas were eventually sentenced to federal prison in 1999. Moreover, in 1997, the company was fined $100 million, the largest antitrust fine in U.S. history at the time.[96] Mark Whitacre, FBI informant and whistleblower of the lysine price-fixing conspiracy, would also find himself in legal trouble for embezzling money from ADM during his time as an informant for the FBI. In addition, according to ADM's 2005 annual report, a settlement was reached under which ADM paid $400 million in 2005 to settle a class action antitrust suit.[97] The Informant is a nonfiction thriller book based on this event, which was later adapted into the 2009 film The Informant!.[98]

Tax dodging edit

A noteworthy case of transfer mispricing came to light in 2011 in Argentina involving the world's four largest grain traders: ADM, Bunge, Cargill and LDC. Argentina's revenue and customs service began an investigation into the four companies when prices for agricultural commodities spiked in 2008 and yet very little profit for the four companies had been reported to the office. As a result of the investigation, it was alleged that the companies had submitted false declarations of sales and routed profits through tax havens or through their headquarters. In some cases, they were said to have used phantom firms to buy grain and had inflated costs in Argentina in order to reduce the recorded profits earned in the country.[99] According to the country's revenue and customs service, the outstanding taxes amounted to almost US$1 billion.[100] The companies involved have denied the allegations. To date, the Argentinian tax authorities have not replied to the Swiss NGO Public Eye’s request regarding the current state of the case.[101] In its 2018 annual report to the US Securities and Exchange Commission (SEC), Bunge mentioned provisions which suggest that the case is still ongoing: "[A]s of December 31, 2018, Bunge's Argentine subsidiary had received income tax assessments relating to 2006 through 2009 of approximately 1,276 million Argentine pesos (approximately $34 million), plus applicable interest on the outstanding amount of approximately 4,246 million Argentine pesos (approximately $113 million[102])."[103]

Violation of the Foreign Corrupt Practices Act edit

On December 20, 2013, the SEC announced that it had charged ADM for failing to prevent illicit payments (bribes) made by its foreign subsidiaries to Ukrainian government officials in violation of the FCPA. Alfred C. Toepfer International Ukraine Ltd. (ACTI Ukraine), plead guilty in the Central District of Illinois to one count of conspiracy in violation of the anti-bribery sections of the FCPA. They agreed to pay $17.8 million in fines. The Department of Justice also entered into a non-prosecution agreement with ADM due to the company's failure to implement a system of internal financial controls, addressing improper payments both in Ukraine and by an ADM joint venture in Venezuela. ADM agreed to pay more than $36 million to settle the SEC's charges, bringing the total amount paid to over $54 million.[104][105]

The Swiss NGO Public Eye elaborated the case.[106][107]

Sonny Perdue land sale edit

In 2021, an investigation by the Washington Post found that ADM had sold land to incoming Secretary of Agriculture Sonny Perdue in 2017 at a fraction of its estimated value. Ethics lawyers had legal and ethical concerns about the sale, questioning whether it amounted to bribery. According to the Post, ADM "sold the land at a small fraction of its estimated value just as it stood to benefit from a friendly secretary of agriculture."[108]

Accounting practices edit

In 2020, ADM's board agreed to have bonuses of senior executives tied to the nutrition segment's success—a unit which accounts for less than 10 percent of the company's revenue—replacing the standard practice of tying the award to adjusted earnings. In January 2023, its seven top executives collectively received shares worth about $72 million for exceeding those performance metrics.[109][110]

In January 2024, ADM disclosed that the SEC requested information regarding its accounting practices at its nutrition business on "intersegment transactions." ADM suspended its CFO, postponed its quarterly earnings report and annual filings, and said it was cooperating with the SEC investigation.[111] In March 2024, FBI agents delivered grand jury subpoenas to current and former employees of ADM, authorized by officials at the U.S. attorney's Manhattan office.[112]

See also edit

References edit

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  50. ^ Nunes, Keith (January 10, 2023). "ADM Ventures investing in the future of food". Food Business News. Retrieved May 15, 2023. 'One of the first focus areas for ADM Ventures was alternative proteins,' said Darren Streiler, vice president of venture capital. 'ADM has an over 75-year history in plant-based proteins, but ADM Ventures was charged with looking beyond ADM's business in plant proteins.'
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External links edit

  • Official website  
  • Business data for Archer-Daniels-Midland Company:
    • Google
    • SEC filings
    • Yahoo!
  • . U.S. Patent and Trademark Office. Archived from the original on November 9, 2020. Retrieved December 6, 2005.
  • Shurtleff, William; Aoyagi, Akiko (2020). History of ADM (Archer Daniels Midland Co.) and the Andreas Family's Work with Soybeans and Soyfoods (1884-2020) (PDF). Lafayette, CA: Soyinfo Center. ISBN 9781948436236.

January 01, 1970
company, confused, with, archer, daniels, midland, company, commonly, known, american, multinational, food, processing, commodities, trading, corporation, founded, 1902, headquartered, chicago, illinois, company, operates, more, than, plants, crop, procurement. Not to be confused with AMD The Archer Daniels Midland Company commonly known as ADM is an American multinational food processing and commodities trading corporation founded in 1902 and headquartered in Chicago Illinois The company operates more than 270 plants and 420 crop procurement facilities worldwide where cereal grains and oilseeds are processed into products used in food beverage nutraceutical industrial and animal feed markets worldwide Archer Daniels Midland CompanyHeadquarters in ChicagoTrade nameADMCompany typePublicTraded asNYSE ADMS amp P 500 componentIndustryFood processing CommoditiesFounded1902 122 years ago 1902 in Minneapolis Minnesota U S FoundersGeorge A ArcherJohn W DanielsHeadquarters77 West Wacker DriveChicago Illinois U S Key peopleJuan Luciano Chairman and CEO ProductsCorn syrup High fructose corn syrup Feed Ethanol Bioenergy FoodServicesFlour millingRevenueUS 93 9 billion 2023 Net incomeUS 3 48 billion 2023 Total assetsUS 54 6 billion 2023 Total equityUS 24 1 billion 2023 Number of employees41 802 2023 SubsidiariesAmerican River Transportation CompanyWebsiteadm wbr comFootnotes references 1 Logo variant used in the corporate website Former corporate logo ADM ranked No 35 in the 2023 Fortune 500 list of the largest United States corporations 2 The company also provides agricultural storage and transportation services The American River Transportation Company along with ADM Trucking Inc are subsidiaries of ADM ADM has been the subject of significant media attention and infamy over the years with its various scandals one inspiring a novel and subsequent film The Informant Contents 1 History 1 1 Early history 1 2 Dwayne Andreas period 1970 1997 1 3 2001 present 2 Environmental record 2 1 Carbon footprint 2 1 1 Underground CO2 storage 2 1 2 Regenerative agriculture 3 Products 3 1 Oilseeds processing 3 2 Corn processing 3 3 Agricultural services 3 4 Investor services 4 Scandals 4 1 Sherman antitrust violation 4 2 Price fixing 4 3 Tax dodging 4 4 Violation of the Foreign Corrupt Practices Act 4 5 Sonny Perdue land sale 4 6 Accounting practices 5 See also 6 References 7 External linksHistory editEarly history edit In 1902 John W Daniels started a linseed crushing business in Minneapolis Minnesota 3 4 5 George A Archer joined the operation the next year and in 1905 the firm s name officially became the Archer Daniels Linseed Company 3 6 In 1923 Archer Daniels Linseed Company acquired Midland Linseed Products Company and then incorporated as the Archer Daniels Midland Company 7 8 The new corporation had total assets exceeding 11 million and controlled just over a third 35 of the total linseed mill capacity within the United States 9 7 In 1924 ADM was listed on the New York Stock Exchange 10 11 12 A series of acquisitions over the next several years expanded the company s oil processing capabilities and agricultural operations and a grain division was established in 1927 13 14 In 1930 ADM purchased control of the flour milling company Commander Larabee Corp which was capable of producing 32 000 barrels of flour per day 15 16 17 In 1934 the company began operating its first continuous solvent extraction plant in Chicago Illinois and could now produce soybean oil 14 18 The rapid development of similar extraction plants soon followed 18 By 1952 Archer Daniel Midland s workforce had expanded to 5 000 employees 19 and by 1952 the company was operating overseas and manufacturing over 700 products 20 In 1962 the company acquired a trademark for ADM and began referring to itself by those initials 21 In 1965 ADM registered the original patent for textured vegetable protein and began producing the soy flour product at its Decatur East Plant by 1966 22 23 In 1966 Dwayne Andreas and his brother Lowell Andreas became minority shareholders in ADM 24 In 1969 ADM relocated its headquarters from Minneapolis to Decatur Illinois a location closer to the company s soybean processing operations 25 26 At this time it was already considered one of the world s largest agribusiness company with a labor force of more than 24 000 employees 27 Dwayne Andreas period 1970 1997 edit Dwayne Andreas was named CEO of ADM in 1970 4 and two years later was elected chairman of the company s board 28 Under his leadership Archer Daniels Midland acquired many smaller agricultural companies and expanded into international markets 29 eventually becoming one of the world s largest agricultural processing companies 4 30 During this period the company s soybean exports increased from 1 5 billion to 7 billion 4 31 Chief executive officers Started Name 1970 Dwayne Andreas 1997 G Allen Andreas 2006 Patricia A Woertz 2015 Juan Luciano In 1974 ADM made its first expansion into Europe and South America when the company acquired soybean plants in Holland and Brazil 32 8 In 1982 ADM established international grain operations when it purchased a portion of Toepfer International a Germany based grain trading firm 33 In 1989 ADM purchased Collingwood Grain Inc based in Hutchinson Kansas adding 48 million bushels of grain storage at 36 terminal elevators 34 Dwayne Andreas stepped down from his position as CEO in 1997 and was succeeded by his nephew G Allen Andreas 35 The transition occurred a year after the company pleaded guilty to price fixing 30 29 2001 present edit In 2001 Paul B Mulhollem became the company s president 36 In December 2001 ADM completed the first U S commercial sale to Cuba since the embargo was imposed in October 1960 37 The next year ADM sponsored a major agribusiness show in Havana where the company signed a 10 million contract with Cuba s food import agency Alimport to deliver rice cooking oil and soy 37 In March 2006 G Allen Andreas announced he was stepping down as CEO 38 Later in May 2006 Patricia A Woertz became the company s chief executive officer 39 In February 2007 Woertz was elected chairman of the board at ADM 40 In 2012 the company sought to acquire strategic holdings to support serving Asian markets through the acquisition of GrainCorp an Australian grain firm with a network of storage and port facilities in Australia 41 On November 28 2013 the acquisition was blocked by the Australian Treasurer Joe Hockey after Australia s Foreign Investment Review Board failed to reach a consensus recommendation 41 The company moved its headquarters to Chicago in 2014 42 That same year ADM completed its acquisition of Toepfer International Germany s largest grain trader and renamed the company ADM Germany GmbH 43 The company also announced that it would buy Swiss German natural ingredient company Wild Flavors for 3 billion a move aimed at expanding ADM into health oriented food sectors 44 ADM announced the appointment of current CEO Juan R Luciano on November 5 2014 45 Luciano initially joined the company in 2011 as chief operating officer 39 Under Luciano s leadership the company restructured its business segments and pursued an aggressive strategy of acquisitions that expanded its human and animal nutrition business 46 In October 2015 ADM announced the sale of its global cocoa business to Olam International The sale was valued at about 1 2 billion 47 Approximately 1 500 employees transferred to Olam with the sale 48 In January 2017 ADM agreed to sell its crop risk services insurance unit to Validus Holdings for 127 5 million 49 In October 2016 ADM launched its venture capital arm ADM Ventures which focused initially on alternative proteins 50 The Wall Street Journal reported in January 2018 that ADM had approached Bunge Ltd about a takeover with details unclear at the time 51 At that point Bunge had a market value of about 9 8 billion and was also being pursued by Glencore PLC for acquisition since May 2017 52 In January 2019 Juan Luciano clarified the company didn t need a monster transformational transaction and a deal was never made 53 In March 2018 ADM restructured its business segments into four units carbohydrate solutions nutrition oilseeds and origination or ag services 54 The next year the company announced it was consolidating the ag services and oilseed units 55 In September 2021 ADM acquired a 75 stake in four pet food companies for a total of 450 million including PetDine Pedigree Ovens NutraDine and The Pound Bakery 56 Later that year in November ADM acquired Serbian soy agribusiness Sojaprotein 57 and completed its acquisition of Deerland Probiotics amp Enzymes 58 In 2022 ADM saw rising profits due to the war in Ukraine and the global food crisis 59 Environmental record editSee also Gran Chaco Conservation issues The company has been the subject of several major federal lawsuits related to air pollution In 2001 it agreed to pay a 1 46 million fine for violating federal and Illinois clean air regulations at its Decatur feed plant and to spend 1 6 million to reduce air pollution there 60 In 2003 the company settled federal air pollution complaints related to its efforts to avoid New Source Review provisions of the Clean Air Act that require pollution control upgrades when a plant is modernized The company paid 4 5 million in penalties and more than 6 million to support environmental projects In addition ADM agreed to eliminate more than 60 000 tons of emissions of carbon monoxide particulate matter volatile organic compounds and other pollutants from 42 plants in 17 states at a cost of hundreds of millions of dollars 61 Carbon footprint edit ADM reported Total CO2e emissions Direct Indirect for the twelve months ending December 2022 at 15 630 Kt 370 year over year 62 In April 2020 ADM announced that by 2035 the company intends to have reduced its greenhouse gas emissions by 25 and its energy intensity by 15 63 Archer Daniels Midland Company s annual Total CO2e Emissions Location Based Scope 1 Scope 2 in kilotonnes Dec 2017 Dec 2018 Dec 2019 Dec 2020 Dec 2021 Dec 2022 17 471 64 17 363 65 17 800 66 16 230 67 16 000 68 15 630 69 Underground CO2 storage edit The American Recovery and Reinvestment Act of 2009 the economic stimulus package developed in response to the Great Recession included a 3 4 billion allocation for the Department of Energy s office of fossil fuel the majority of which was slated for the Industrial Carbon Capture and Storage ICCS program 70 Through this ICCS initiative 71 the Department of Energy co sponsored two large scale capture and storage projects at ADM facilities in Illinois 72 These projects were intended to test the feasibility of underground disposal of carbon dioxide emissions 73 In November 2011 the first of these projects the Illinois Basin Decatur Project IBDP began operation 74 The project involved injecting carbon captured at an ADM biofuel facility into Mount Simon Sandstone a saline reservoir 73 This project was carried out by the Midwest Geological Sequestration Consortium at the University of Illinois 73 The Department of Energy provided 66 7 million in funding with other funding coming from private partners 75 After three years of injection it was determined that the sandstone was accepting CO2 in an easier fashion than was originally expected 75 In 2017 operations began on a larger project the Illinois Industrial Carbon Capture and Storage Project IL CCS 76 which again involved injecting carbon into Mount Simon Sandstone but this time at a different location and at a much higher volume 77 Whereas the first project involved injecting one million tons of carbon underground over three years the IL CCS project involved storing that same amount in only one year 77 The Department of Energy contributed 141 million to the project while the private sector cost share amounted to over 66 million 78 Other partners included Richland Community College and the Illinois State Geological Survey 78 In November 2020 Investigate Midwest reported that the Illinois Industrial Carbon Capture and Storage Project had not reached its milestone of one million tons stored and had only stored approximately half that amount and that carbon emissions from the Decatur facility had actually increased from 4 2 million tons of carbon dioxide in 2016 the year before the project launched to 4 4 million in 2019 79 The United States Department of Energy responded that the agency wasn t concerned about the project reaching the stated goals as ADM successfully demonstrated that the storage technologies work and could be utilized for future projects 79 In August 2021 ADM announced that its US flour milling operations had achieved net carbon neutral status in part due to the Decatur capture and storage project 80 In March 2023 the Decatur City Council voted unanimously to allow ADM to expand its carbon sequestration program onto city land 81 with the company paying the city 450 per acre of land 82 The agreement enabled ADM to inject liquified carbon dioxide into pore space 1 25 miles under land owned by the city of Decatur 82 Regenerative agriculture edit In September 2022 PepsiCo and ADM established a partnership on regenerative agriculture projects that would increase the practice across their North American supply chains and help the companies meet carbon reduction goals 83 In July 2023 ADM launched an expansion of the program which offers producers financial incentives and technical support to implement regenerative practices 84 As of December 2023 the company had allocated nearly 2 million acres of land within its supply chain for the program 85 Products editProducts include oils and meal from soybeans cottonseed sunflower seeds canola peanuts flaxseed Palm kernel and DAG oil as well as corn germ corn gluten feed pellets syrup starch glucose dextrose crystalline dextrose high fructose corn syrup sweeteners chocolate ethanol and wheat flour End uses are consumption by people livestock and additives for fuel In January 2008 ADM signed a three year memorandum of understanding with Daimler AG and Bayer CropScience to explore the use of jatropha as a feedstock for biofuel 86 87 Natural flavors were added to ADM s product portfolio with the 2014 acquisition of Wild Flavors 88 and vanilla products were added through the acquisition of Rodelle in 2018 89 Long known as a food and ingredients company it has also invested in fuel production ADM nearly doubled capital spending in its 2007 budget to an estimated 1 12 billion The increase is planned for bioenergy projects focusing on bioethanol and biodiesel 90 Oilseeds processing edit The oilseeds processing segment includes global activities related to the origination merchandising crushing and further processing of oilseeds such as soybeans and soft seeds cottonseed sunflower seed canola and flaxseed into vegetable oils and protein meals 91 The first quarter of 2020 during the COVID 19 pandemic saw the operating profit of Ag Services and Oilseeds ADM s biggest revenue segment rise 422 million or 1 2 92 Corn processing edit ADM s corn processing segment is engaged in corn wet milling and dry milling activities with its asset base primarily located in the central part of the United States The Corn Processing segment converts corn into sweeteners and starches and bioproducts Its products include ingredients used in the food and beverage industry including sweeteners starch syrup glucose dextrose Dextrose and starch are used by the Corn Processing segment as feedstocks for its bioproducts operations 91 In 2021 ADM was ranked second on the Top 50 Global Sweetener Companies list by FoodTalks 93 Agricultural services edit nbsp ADM mix plant ADM s agricultural services segment uses its U S grain elevator global transportation network and port operations to buy store clean and transport agricultural commodities such as oilseeds corn wheat milo oats rice and barley and resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry 91 Investor services edit ADM investor services Inc is a registered futures commission merchant and a clearing member of all principal commodities exchanges in the U S ADM Investor Services International Ltd a member of commodity exchanges and clearing houses in Europe and ADMIS Hong Kong Limited offer broker services in Europe and Asia 91 Scandals editSherman antitrust violation edit In 1920 the US Department of Justice brought suit against the National Linseed Oil Trust for violating the Sherman Antitrust Act Several co defendants were named including the Archer Daniels Manufacturing Company The suit alleged all of these companies were acting in collusion to raise prices citing a spike in linseed oil costs between 1916 and 1918 when the price rose from 50 per gallon to 1 80 94 Price fixing edit See also Lysine price fixing conspiracy In 1993 the company was the subject of a lysine price fixing investigation by the U S Justice Department Senior ADM executives were indicted on criminal charges for engaging in price fixing within the international lysine market In a tape played at the trial ADM s President said that a single phrase inspired the company Our competitors are our friends Our customers are the enemy 95 Three of ADM s top officials including vice chairman Michael Andreas were eventually sentenced to federal prison in 1999 Moreover in 1997 the company was fined 100 million the largest antitrust fine in U S history at the time 96 Mark Whitacre FBI informant and whistleblower of the lysine price fixing conspiracy would also find himself in legal trouble for embezzling money from ADM during his time as an informant for the FBI In addition according to ADM s 2005 annual report a settlement was reached under which ADM paid 400 million in 2005 to settle a class action antitrust suit 97 The Informant is a nonfiction thriller book based on this event which was later adapted into the 2009 film The Informant 98 Tax dodging edit A noteworthy case of transfer mispricing came to light in 2011 in Argentina involving the world s four largest grain traders ADM Bunge Cargill and LDC Argentina s revenue and customs service began an investigation into the four companies when prices for agricultural commodities spiked in 2008 and yet very little profit for the four companies had been reported to the office As a result of the investigation it was alleged that the companies had submitted false declarations of sales and routed profits through tax havens or through their headquarters In some cases they were said to have used phantom firms to buy grain and had inflated costs in Argentina in order to reduce the recorded profits earned in the country 99 According to the country s revenue and customs service the outstanding taxes amounted to almost US 1 billion 100 The companies involved have denied the allegations To date the Argentinian tax authorities have not replied to the Swiss NGO Public Eye s request regarding the current state of the case 101 In its 2018 annual report to the US Securities and Exchange Commission SEC Bunge mentioned provisions which suggest that the case is still ongoing A s of December 31 2018 Bunge s Argentine subsidiary had received income tax assessments relating to 2006 through 2009 of approximately 1 276 million Argentine pesos approximately 34 million plus applicable interest on the outstanding amount of approximately 4 246 million Argentine pesos approximately 113 million 102 103 Violation of the Foreign Corrupt Practices Act edit On December 20 2013 the SEC announced that it had charged ADM for failing to prevent illicit payments bribes made by its foreign subsidiaries to Ukrainian government officials in violation of the FCPA Alfred C Toepfer International Ukraine Ltd ACTI Ukraine plead guilty in the Central District of Illinois to one count of conspiracy in violation of the anti bribery sections of the FCPA They agreed to pay 17 8 million in fines The Department of Justice also entered into a non prosecution agreement with ADM due to the company s failure to implement a system of internal financial controls addressing improper payments both in Ukraine and by an ADM joint venture in Venezuela ADM agreed to pay more than 36 million to settle the SEC s charges bringing the total amount paid to over 54 million 104 105 The Swiss NGO Public Eye elaborated the case 106 107 Sonny Perdue land sale edit In 2021 an investigation by the Washington Post found that ADM had sold land to incoming Secretary of Agriculture Sonny Perdue in 2017 at a fraction of its estimated value Ethics lawyers had legal and ethical concerns about the sale questioning whether it amounted to bribery According to the Post ADM sold the land at a small fraction of its estimated value just as it stood to benefit from a friendly secretary of agriculture 108 Accounting practices edit In 2020 ADM s board agreed to have bonuses of senior executives tied to the nutrition segment s success a unit which accounts for less than 10 percent of the company s revenue replacing the standard practice of tying the award to adjusted earnings In January 2023 its seven top executives collectively received shares worth about 72 million for exceeding those performance metrics 109 110 In January 2024 ADM disclosed that the SEC requested information regarding its accounting practices at its nutrition business on intersegment transactions ADM suspended its CFO postponed its quarterly earnings report and annual filings and said it was cooperating with the SEC investigation 111 In March 2024 FBI agents delivered grand jury subpoenas to current and former employees of ADM authorized by officials at the U S attorney s Manhattan office 112 See also edit nbsp Companies portal nbsp Food portal nbsp Illinois portal List of Illinois companies List of S amp P 500 companiesReferences edit 2023 Annual Report Form 10 K U S Securities and Exchange Commission March 12 2024 Fortune 500 Fortune Retrieved June 28 2023 a b Pederson Jay P 2000 International Directory of Corporate Histories Vol 32 St James Press p 57 ISBN 9781558623910 John W Daniels began crushing flaxseed to make linseed oil in Ohio in 1878 and in 1902 he moved to Minneapolis Minnesota to organize the Daniels Linseed Company The company consisted of a flax crushing plant that made three products raw linseed oil boiled linseed oil and linseed cake or meal In 1903 George A Archer joined the firm and in a few years it became the Archer Daniels Linseed Company a b c d Schneider Keith November 17 2016 Dwayne O Andreas Who Turned Archer Daniels Midland Into Food Giant Dies at 98 The New York Times Retrieved April 19 2023 Black Sam Halter Nick October 4 2013 Why ADM should move home to Minnesota Minneapolis St Paul Business Journal Retrieved April 19 2023 Cayton Rodd October 9 2003 ADM s bean processing plant isn t doing soy bad in Lincoln Lincoln Journey Star via Nexis Company founded in Minneapolis in 1902 by John W Daniels as Daniels Linseed Co Changed name to Archer Daniels Linseed Co in 1905 became Archer Daniels Midland in 1923 a b Pederson Jay P 2000 International Directory of Corporate Histories Vol 32 St James Press p 57 ISBN 9781558623910 In 1923 the company purchased the Midland Linseed Products Company and then incorporated as the Archer Daniels Midland Company a b Valente Michael 2009 Archer Daniels Midland Company ADM PDF American Chemical Society ADM Milling closing N Kansas City mill Wausau Daily Herald April 23 1923 p 10 Retrieved April 20 2023 Merger of the Archer of the Archer Daniels Linseed company and Midland Linseed Products company of Minneapolis into a corporation with total assets exceeding 11 000 000 and which will control about thirty five per cent of the linseed mill capacity of the United States became known here today Mall Scott April 11 2021 FreightWaves Haul of Fame ADM Trucking serves ADM and others FreightWaves Retrieved July 5 2023 The company went public in 1924 and was listed on the New York Stock Exchange LUSVARDI CHRIS December 3 2009 ADM execs ring closing bell at New York Stock Exchange Herald Review com Retrieved April 19 2023 Mattioli Dana Bunge Jacob January 19 2018 ADM Has Made Takeover Approach to Bunge Ltd The Wall Street Journal Retrieved April 19 2023 Pederson Jay P 2000 International Directory of Corporate Histories Vol 32 St James Press p 57 ISBN 978 1 55862 391 0 Throughout the 1920s the company made steady purchases of oil processing companies in the Midwest while engaging in other agricultural activities a b Kotrba Ron Bryan Tom April 1 2006 Holding Its Lead Ethanol Producers Magazine Retrieved April 19 2023 In 1927 ADM s grain division was established and in 1934 the company initiated its first continuous solvent extraction at its Chicago soybean crushing facility using soybeans and the new chemical process to successfully extract soybean oil from the oilseeds Business Commander to the Gulf Time June 27 1932 Sosland Josh March 10 2010 ADM Milling closing N Kansas City mill Baking Business Retrieved April 20 2023 Mitchell Julie A 2001 Notable Corporate Chronologies Vol 1 Gale Group p 162 ISBN 978 0 7876 5050 6 1930 ADM acquires the Commander Larabee Co a huge flour miller capable of producing 32 000 barrels per day a b MacGree Ernest A August 1947 Vegetable Oil extraction solvents History and general composition Oil Mill Gazetter International Association of Oil Mill Superintendents Retrieved July 5 2023 via Texas A amp M University The ADM plant in March 1934 represented a turning point and marketed the beginning of the large scale edible oil extraction industry as it is known today Installations of other large capacity continuous plants followed in rapid succession Kotrba Ron Bryan Tom April 1 2006 Holding Its Lead Ethanol Producers Magazine Retrieved April 19 2023 By 1952 ADM s workforce had grown to 5 000 employees Pederson Jay P 2000 International Directory of Corporate Histories Vol 32 St James Press p 57 ISBN 978 1 55862 391 0 When President Thomas L Daniels son of the founder and Chairperson Samuel Mairs celebrated Archer Daniels Midland s 50th anniversary in 1952 the company was manufacturing over 700 standard products and had extended its operations overseas Aoyagi Akiko Shurtleff William August 7 2020 History of ADM Archer Daniels Midland Co and the Andreas Family s Work with Soybeans and Soyfoods 1884 2020 PDF Soyinfo Center p 6 1962 April Archer Daniels Midland Co introduces a new trademark and decides to consistently call itself ADM Soybean Digest p 27 Reid Tony September 30 2022 Decatur a central part of ADM s past future Herald amp Review Retrieved April 21 2023 Archer Daniels Midland ADM Has the Formulation Knowledge That Brings New and Exciting Products to Life vegconomist the vegan business magazine Vegconomist December 2 2021 Retrieved April 21 2023 Meersman Tom November 29 2016 Obituary Former ADM executive Dwayne Andreas had deep ties to Minnesota and Hubert Humphrey Star Tribune Retrieved April 21 2023 Gasparro Annie September 26 2013 ADM Leaves Decatur With Little Town Blues The Wall Street Journal Retrieved February 17 2021 It moved its headquarters here from Minneapolis in 1969 Perlman Seth March 1 2017 Archer Daniels Midland 4 159 employees Herald amp Review Retrieved February 17 2021 ADM first found a home in Decatur in 1939 and in 1969 ADM moved its corporate offices and research laboratory to Decatur Aoyagi William Shurtleff Akiko 2020 History of ADM Archer Daniels Midland Co and the Andreas Family s Work with Soybeans and Soyfoods 1884 2020 Extensively Annotated Bibliography and Sourcebook Soyinfo Center p 165 ISBN 978 1 948436 23 6 a href Template Cite book html title Template Cite book cite book a CS1 maint multiple names authors list link Aoyagi Akiko Shurtleff William August 7 2020 History of ADM Archer Daniels Midland Co and the Andreas Family s Work with Soybeans and Soyfoods 1884 2020 PDF Soyinfo Center p 8 1972 Dwayne Andreas is elected chairman of the board at ADM a b Mercer David November 16 2016 Dwayne Andreas who transformed Archer Daniels Midland into global powerhouse dies at 98 Washington Post Retrieved April 19 2023 His use of political clout and his aggressive acquisition of smaller companies and expansion into new markets built ADM into one of the world s largest agricultural processing marketing and distributing companies a b Miller Stephen November 16 2016 Dwayne Andreas Who Made ADM World s Supermarket Dies at 98 Bloomberg Retrieved April 19 2023 Meersman Tom November 29 2016 Former ADM executive Dwayne Andreas had deep ties to Minnesota and Hubert Humphrey Star Tribune Retrieved May 29 2022 Aoyagi Akiko Shurtleff William August 7 2020 History of ADM Archer Daniels Midland Co and the Andreas Family s Work with Soybeans and Soyfoods 1884 2020 PDF Soyinfo Center p 8 1974 ADM in Brazil 1974 acquired soybean processing edible oil refinery Technologia Tecnologia em Vegetais e Proteinas SA 50 1974 acquired soybean processing edible oil Aoyagi Akiko Shurtleff William August 7 2020 History of ADM Archer Daniels Midland Co and the Andreas Family s Work with Soybeans and Soyfoods 1884 2020 PDF Soyinfo Center p 8 1982 Dec ADM buys 80 of Alfred C Toepfer International ACTI a grain trading firm based in Germany With this ADM became a multinational grain trader Collingwood to Sell Units Retrieved July 25 2022 Eichenwald Kurt April 18 1997 Andreas Retires as Chief of Archer Daniels The New York Times ISSN 0362 4331 Retrieved April 21 2023 Archer Daniels Midland Form 10 K Annual Report Filing Date Sep 20 2002 secdatabase com Retrieved January 13 2013 a b U S Companies Make Millions At Cuba Business Fair PBS News hour October 1 2002 Retrieved September 21 2023 Lambert Emily March 24 2006 End of the Line Forbes Retrieved April 21 2023 a b Cancino Alejandra November 6 2014 Pat Woertz retiring ADM names new CEO Chicago Tribune Retrieved April 20 2023 Archer Daniels Midland Form 8 K Current Report Filing Date Feb 6 2007 secdatabase com Retrieved January 13 2013 a b Feast Lincoln Packham Colin November 28 2013 Australia surprises with rejection of 2 55 billion GrainCorp takeover by ADM Reuters Retrieved May 1 2023 LUSVARDI CHRIS August 26 2014 ADM settles in at new Chicago headquarters Herald Review com Retrieved February 24 2021 Nicholson Marcy Polansek Tom April 15 2014 ADM to keep its cocoa presses but to sell chocolate business The Associated Press Retrieved September 21 2023 Almeida Isis October 21 2020 Commodities King ADM Pivots to Pet Food Veggie Burgers and Probiotics Bloomberg Retrieved September 21 2023 Fighting stagnation in its old line businesses the company is searching for growth in the future of nutrition Pat Woertz retiring ADM names new CEO Chicago Tribune November 6 2014 ADM says to focus on organic growth after acquisitions Reuters November 13 2019 Retrieved March 9 2021 Grain trader Archer Daniels Midland Co ADM does not expect to continue its aggressive strategy of acquisitions in the next few years and will instead focus on organic growth a senior official said on Wednesday Hunt Sarah McFarlane October 16 2015 Olam completes acquisition of ADM s cocoa business Reuters Retrieved October 2 2020 ADM Completes Sale of Global Cocoa Business Adm com Archived from the original on November 20 2015 Retrieved November 19 2015 Deals of the day Mergers and acquisitions Reuters January 31 2017 Retrieved May 10 2023 Nunes Keith January 10 2023 ADM Ventures investing in the future of food Food Business News Retrieved May 15 2023 One of the first focus areas for ADM Ventures was alternative proteins said Darren Streiler vice president of venture capital ADM has an over 75 year history in plant based proteins but ADM Ventures was charged with looking beyond ADM s business in plant proteins Bunge Jacob Mattioli Dana January 19 2018 ADM Has Made Takeover Approach to Bunge Ltd The Wall Street Journal The New York Times New York City United States Retrieved May 1 2023 Bunge Jacob Mattioli Dana January 19 2018 ADM Has Made Takeover Approach to Bunge Ltd The Wall Street Journal New York City United States Retrieved January 21 2018 Huffstutter P J Stauffer Caroline January 16 2019 Exclusive ADM CEO says wrong time for monster acquisitions Reuters Retrieved May 1 2023 Huffstutter P J Polansek Tom March 19 2018 ADM restructures business groups as grain margins falter Reuters Retrieved April 29 2023 Kiernan Stone Lynda June 11 2019 ADM Reorganizes for Second Time in 14 Months Creates New Business Unit Unconventional Ag News HighQuest Partners Retrieved April 29 2023 Miller Ben September 8 2021 ADM buys majority stake in four pet food companies for 450 million Chicago Business Journal Retrieved April 21 2023 Donley Arvin November 29 2021 ADM completes Sojaprotein acquisition World Grain World Grain Retrieved April 21 2023 Schroeder Eric November 4 2021 ADM finalizes acquisition of Deerland Probiotics amp Enzymes World Grain Retrieved May 15 2023 Grain Traders Profits Rise as Ukraine War Tightens Global Food Supply The Wall Street Journal April 27 2022 Archer Daniels Fined Over Clean Air Rules Los Angeles Times January 13 2001 Lee Jennifer 8 April 9 2003 2 Companies Said to Agree to Settle Suits on Emission The New York Times Retrieved July 24 2013 2022 ADM Corporate Sustainability Report PDF ADM May 19 2023 Retrieved June 26 2023 Einstein Curtis Aerin April 1 2020 ADM sets 2035 emissions energy reduction targets feednavigator com Retrieved June 27 2023 Archer Daniels Midland Company s Sustainability Report for 2017Q4 PDF Archived from the original PDF on June 4 2020 Alt URL Archer Daniels Midland Company s Sustainability Report for 2018Q4 PDF Archived from the original PDF on April 6 2020 Alt URL 2019 ADM Corporate Sustainability Report PDF ADM Retrieved July 6 2023 Archer Daniels Midland Company s Sustainability Report for 2020Q4 PDF Archived from the original PDF on September 8 2021 Alt URL Archer Daniels Midland Company s Sustainability Report for 2021Q4 PDF Archived from the original PDF on September 28 2022 Alt URL 2022 ADM Corporate Sustainability Report PDF ADM May 19 2023 Retrieved June 26 2023 Gardner Timothy Nichols Bruce March 5 2009 ANALYSIS Costs to keep US carbon storage from coal elusive Reuters Retrieved July 11 2023 Gollakota Sai McDonald Scott October 15 2012 CO2 capture from ethanol production and storage into the Mt Simon Sandstone Greenhouse Gases Science and Technology 2 5 346 351 Retrieved July 11 2023 Lusvardi Chris April 11 2017 ADM begins carbon dioxide injection process Herald Review Journal Gazette and Times Courier This is the second carbon capture and storage project that ADM has helped to lead The previous project involved removing and storing approximately 1 million tons of carbon over three years as part of the smaller scale Illinois Basin Decatur Project which was led by the Midwest Geological Sequestration Consortium at the University of Illinois a b c Finley Robert J October 2014 An overview of the Illinois Basin Decatur Project Greenhouse Gases Science and Technology 4 5 Wiley 571 579 Project begins injection of CO2 for storage at Illinois Basin Prairie Research Institute November 28 2011 via Phys org a b Decatur Fact Sheet Carbon Dioxide Capture and Storage Project Massachusetts Institute of Technology Lusvardi Chris April 11 2017 ADM begins carbon dioxide injection process Herald Review Journal Gazette and Times Courier Operations have started as Archer Daniels Midland Co plans to inject and permanently store more than 1 million tons of carbon dioxide per year deep underneath part of Decatur s east side The Illinois Industrial Carbon Capture and Storage project is a continuation of research efforts that have already taken place with hopes to show the technology can be commercialized a b Illinois Industrial Carbon Capture and Storage IL CCS Fact Sheet Carbon Dioxide Capture and Storage Project Massachusetts Institute of Technology a b Lusvardi Chris April 11 2017 ADM begins carbon dioxide injection process Herald Review Journal Gazette and Times Courier Partners on the 207 million project include the U S Department of Energy Richland Community College and the Illinois State Geological Survey The project received a 141 million investment from the Department of Energy which was matched by over 66 million in private sector cost share a b Hettinger Johnathan November 19 2020 Despite hundreds of millions in tax dollars ADM s carbon capture program still hasn t met promised goals Investigate Midwest Crawford Elizabeth August 31 2021 ADM s US flour milling reaches net carbon neutrality thanks to energy treasure hunts carbon sequestration amp new state of the art facilities foodnavigator usa com Retrieved June 22 2023 Moore Brenden March 21 2023 Decatur allows ADM to store CO2 under city owned land Herland amp Review Retrieved June 27 2023 a b Nelson Noah March 21 2023 Decatur City Council approves ADM carbon capture sequestration Tillamook plant redevelopment plan WCIA com Retrieved June 27 2023 Doering Christopher September 15 2022 PepsiCo ADM partner to cut carbon through regenerative agriculture Food Dive Retrieved August 29 2023 Donley Arvin July 19 2023 ADM regenerative ag program set to expand Food Business News Retrieved August 29 2023 Marston Jennifer December 14 2023 2 million acres and counting unpacking ADM s regenerative agriculture progress report for North America AgFunderNews Retrieved January 29 2024 Daimler ADM Bayer to test Jatropha for biodiesel Reuters January 9 2008 Retrieved October 23 2020 Sims Bryan February 11 2008 ADM Daimler Bayer partner to explore jatropha www biodieselmagazine com Retrieved October 23 2020 Acquisition adds natural flavors to Archer Daniels Midland portfolio Retrieved November 9 2020 Team F N I September 11 2018 Americas ADM buys vanilla supplier Food News International Retrieved February 14 2021 Fusaro Dave March 26 2007 ADM s big bet on fuel Food Processing Retrieved June 6 2007 a b c d UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D C 20549 FORM 10 K Sec gov Retrieved November 30 2015 ADM first quarter profit beats estimates as CEO cites many unknowns of pandemic CNBC April 30 2020 Retrieved June 20 2020 Huang Lemon 2021年全球甜味剂企业50强 www foodtalks cn in Chinese Retrieved January 17 2022 Sues to dissolve Trust New York Times July 1 1920 Retrieved 7 26 2015 Antitrust Division An Inside Look At A Cartel At Work Common Characteristics Of International Cartels United States Department of Justice www justice gov June 25 2015 Retrieved March 11 2024 Hunter Gault Charlayne October 15 1996 ADM Who s Next MacNeil Lehrer Newshour PBS Archived from the original on September 30 2007 Retrieved October 17 2007 Archer Daniels Midland Company 2005 Annual Report Adm com p 52 Archived from the original on January 21 2009 Retrieved November 30 2015 The Serious Story Behind The Informant NPR September 20 2009 Retrieved June 28 2023 Lawrence Felicity June 1 2011 Argentina accuses world s largest grain traders of huge tax evasion The Guardian ISSN 0261 3077 Retrieved August 1 2019 Bloomberg L P March 25 2013 Grain exporters owe Argentina 951 million in taxes Retrieved August 1 2019 Public Eye June 2019 Agricultural Commodity Traders in Switzerland PDF Retrieved August 1 2019 Meredith Sam August 31 2018 Argentina s peso has now fallen 52 against the dollar this year CNBC Retrieved August 1 2019 Bunge Ltd BG 10K Annual Reports amp 10Q SEC Filings Last10K Retrieved August 1 2019 SEC Charges Archer Daniels Midland Company With FCPA Violations Filing Date Dec 20 2013 SEC Retrieved December 22 2013 ADM Subsidiary Pleads Guilty to Conspiracy to Violate the Foreign Corrupt Practices Act Justice gov December 20 2013 Public Eye June 2019 Agricultural Commodity Traders in Switzerland PDF Retrieved August 1 2019 ADM Subsidiary Pleads Guilty to Conspiracy to Violate the Foreign Corrupt Practices Act www justice gov December 20 2013 Retrieved August 1 2019 Yi Joy Sharon O Connor Erin Patrick The land was worth millions A Big Ag corporation sold it to Sonny Perdue s company for 250 000 Washington Post Retrieved June 30 2021 Veloso Tarso Melin Anders January 24 2024 ADM Unit Being Probed Helped Make Leaders More Than 70 Million Bloomberg News Casey Simon Veloso Tarso Freitas Jr Gerson January 23 2024 ADM Probe Highlights Struggle to Expand Beyond Crop Trading Bloomberg News Archer Daniels Midland plunged by a record 23 after suspending its CFO and cutting its outlook on an internal accounting probe Fortune January 22 2024 Retrieved March 10 2024 Prentice Chris March 7 2024 Exclusive FBI agents deliver grand jury subpoenas as ADM criminal probe escalates sources say Reuters Retrieved March 8 2024 External links editOfficial website nbsp Business data for Archer Daniels Midland Company GoogleSEC filingsYahoo Patents owned by Archer Daniels Midland U S Patent and Trademark Office Archived from the original on November 9 2020 Retrieved December 6 2005 Shurtleff William Aoyagi Akiko 2020 History of ADM Archer Daniels Midland Co and the Andreas Family s Work with Soybeans and Soyfoods 1884 2020 PDF Lafayette CA Soyinfo Center ISBN 9781948436236 Retrieved from https en wikipedia org w index php title ADM company amp oldid 1221451198, wikipedia, wiki, book, books, library,

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