Company:ADM

From HandWiki
Short description: American food processing and commodities trading corporation
Archer-Daniels-Midland Company
ADM
TypePublic
Industry
Founded1902; 122 years ago (1902) in Minneapolis, Minnesota, U.S.
Founders
  • George A. Archer
  • John W. Daniels
Headquarters77 West Wacker Drive
Chicago, Illinois, U.S.
Key people
Juan Luciano
(chairman and CEO)
Products
ServicesFlour milling
RevenueIncrease US$101.6 billion (2022)
Increase US$4.34 billion (2022)
Total assetsIncrease US$59.8 billion (2022)
Total equityIncrease US$24.3 billion (2022)
Number of employees
42,001 (2022)
SubsidiariesAmerican River Transportation Company
Websiteadm.com
Footnotes / references
[1]
Logo variant used in the corporate website
Former corporate logo

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 . 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.

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

Early history

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]

Dwayne Andreas period (1970–1997)

Dwayne Andreas was named CEO of ADM in 1970,[4] and two years later was elected chairman of the company's board.[27] Under his leadership, Archer Daniels Midland acquired many smaller agricultural companies and expanded into international markets,[28] eventually becoming one of the world's largest agricultural processing companies.[4][29] During this period, the company's soybean exports increased from $1.5 billion to $7 billion.[4][30]

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 .[31][8]

In 1982, ADM established international grain operations when it purchased a portion of Toepfer International, a Germany -based grain trading firm.[32]

In 1989, ADM purchased Collingwood Grain Inc. based in Hutchinson Kansas, adding 48 million bushels of grain storage at 36 terminal elevators.[33] In 2001, Paul B. Mulhollem became the company's president.[34] ADM was the first U.S. company to sign a contract with Cuba since the embargo against Cuba was imposed in October 1960.[35] Dwayne Andreas stepped down from his position as CEO in 1997 and was succeeded by his nephew G. Allen Andreas.[36] The transition occurred a year after the company pleaded guilty to price-fixing.[29][28]

2006–present

In May 2006, Patricia A. Woertz became the company's chief executive officer.[37][38] In February 2007, Woertz was elected chairman of the board at ADM.[39]

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.[38] On November 29, 2013, this acquisition was blocked by the Australian Treasurer.

The company moved its headquarters to Chicago in 2014.[40]

On July 7, 2014, the company announced that it would buy Swiss-German natural ingredient company Wild Flavors for $3 billion, a move aimed at diversifying the company and helping brands appeal to consumers who increasingly favor foods with natural ingredients and flavorings.[41]

The appointment of current CEO Juan R. Luciano was announced on November 5, 2014.[42] Luciano joined the company in 2011 as executive vice president and chief operating officer and became president in February 2014. He succeeded Patricia Woertz as CEO in January 2015, and as chairman of the board in January 2016.[43]

In October 2015, ADM announced the sale of its global cocoa business to Olam International. The sale was valued at about $1.2 billion.[44] Approximately 1,500 employees transferred to Olam with the sale.[45] In January 2017, ADM agreed to sell its crop risk services (insurance) unit to Validus Holdings for $127.5 million.[46]

On January 19, 2018, it was reported that Archer Daniels Midland Co. (ADM) had approached Bunge Ltd. about a takeover, with details "unclear". 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.[47] In 2018 ADM agreed to purchase the British probiotic supplement company Probiotics International Limited for $243 million.[48] In 2019, ADM agreed to purchase the remaining 50 percent stake in British grain and oilseed producer Gleadell from the French company InVivo,[49] and completed the acquisition of animal nutrition company Neovia for €1.54 billion (US$1.73 billion).[50][51] In 2022, ADM saw rising profits due to the war in Ukraine and the global food crisis.[52][53][54]

In December 2023, ADM acquired Revela Foods, a manufacturer of dairy flavor ingredients and solutions, for an undisclosed amount.[55]

Environmental record

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.[56] 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.[57]

Carbon footprint

ADM reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 31 December 2020 at 16,230 Kt (-1,570 /-8.8% y-o-y).[58] ADM plans to reduce emissions 25% by 2035 from a 2019 base year.[59]

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
17,471[60] 17,363[61] 17,800[62] 16,230[58]

Underground CO
2 storage

ADM began underground CO
2 storage under Mount Simon Sandstone in 2017.[63]

ADM has been storing over a million tons of CO
2 under its own facility and as of 2023, is in the process of developing a pipeline to store more CO
2 underneath Decatur, Illinois. ADM is working with Richland Community College to develop two associates degree programs in carbon capture.[64]

Products

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.[65][66] Natural flavors were added to ADM's product portfolio with the 2014 acquisition of Wild Flavors[67] and vanilla products were added through the acquisition of Rodelle in 2018.[68]

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.[69]

Oilseeds processing

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.[70]

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%.[71]

Corn processing

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.[70] In 2021, ADM was ranked second on the Top 50 Global Sweetener Companies list by FoodTalks.[72]

Agricultural services

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.[70]

Investor services

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.[70]

Scandals

Sherman antitrust violation

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.[73]

Price fixing

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. 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.[74] 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.[75] The Informant is a nonfiction thriller book based on this event, which was later adapted into the 2009 film The Informant!.[76]

Tax dodging

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.[77] According to the country's revenue and customs service, the outstanding taxes amounted to almost US$1 billion.[78] 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.[79] 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[80])."[81]

Violation of the Foreign Corrupt Practices Act

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.[82][83]

The Swiss NGO Public Eye elaborated the case.[84][85]

Sonny Perdue land sale

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."[86]

Accounting practices

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. 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.[87][88]

See also

  • List of Illinois companies
  • List of S&P 500 companies

References

  1. ↑ "2022 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 14, 2023. https://www.sec.gov/ix?doc=/Archives/edgar/data/7084/000000708423000010/adm-20221231.htm. 
  2. ↑ "Fortune 500" (in en). https://fortune.com/company/archer-daniels-midland/fortune500/. 
  3. ↑ 3.0 3.1 Pederson, Jay P. (2000). International Directory of Corporate Histories. 32. St. James Press. p. 57. ISBN 9781558623910. https://books.google.com/books?id=z_XXAAAAMAAJ&q=John+W.+Daniels+began+crushing+flaxseed+to+make+linseed+oil+in+Ohio+in+1878. "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." 
  4. ↑ 4.0 4.1 4.2 4.3 Schneider, Keith (2016-11-17). "Dwayne O. Andreas, Who Turned Archer Daniels Midland Into Food Giant, Dies at 98". The New York Times. https://www.nytimes.com/2016/11/17/business/dwayne-o-andreas-former-archer-daniels-midland-chief-dies-at-98.html. Retrieved 2023-04-19. 
  5. ↑ Black, Sam; Halter, Nick (2013-10-04). "Why ADM should move home to Minnesota". Minneapolis / St. Paul Business Journal. https://www.bizjournals.com/twincities/print-edition/2013/10/04/why-adm-should-move-home.html. Retrieved 2023-04-19. 
  6. ↑ Cayton, Rodd (October 9, 2003). "ADM's bean processing plant isn't doing soy bad in Lincoln". Lincoln Journey Star. "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." 
  7. ↑ 7.0 7.1 Pederson, Jay P. (2000). International Directory of Corporate Histories. 32. St. James Press. p. 57. ISBN 9781558623910. https://books.google.com/books?id=z_XXAAAAMAAJ&q=John+W.+Daniels+began+crushing+flaxseed+to+make+linseed+oil+in+Ohio+in+1878. "In 1923 the company purchased the Midland Linseed Products Company and then incorporated as the Archer Daniels Midland Company." 
  8. ↑ 8.0 8.1 Valente, Michael (2009). "Archer Daniels Midland Company (ADM)". American Chemical Society. https://www.acs.org/content/dam/acsorg/greenchemistry/industriainnovation/ADM-business-case-study.pdf. 
  9. ↑ "ADM Milling closing N Kansas City mill". Wausau Daily Herald: p. 10. 1923-04-23. https://wausaudailyherald.newspapers.com/browse/united-states/wisconsin/wausau/wausau-daily-herald_3721/1923/04/23/. Retrieved 2023-04-20. ""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."" 
  10. ↑ Mall, Scott (April 11, 2021). "FreightWaves Haul of Fame: ADM Trucking serves ADM and others". FreightWaves. https://www.freightwaves.com/news/freightwaves-haul-of-fame-adm-trucking-serves-adm-and-others. "The company went public in 1924, and was listed on the New York Stock Exchange." 
  11. ↑ LUSVARDI, CHRIS (2009-12-03). "ADM execs ring closing bell at New York Stock Exchange". Herald-Review.com. https://herald-review.com/news/local/adm-execs-ring-closing-bell-at-new-york-stock-exchange/article_bf55d4bc-e039-11de-8d21-001cc4c03286.html. Retrieved 2023-04-19. 
  12. ↑ Mattioli, Dana; Bunge, Jacob (January 19, 2018). "ADM Has Made Takeover Approach to Bunge Ltd.". The Wall Street Journal. https://www.wsj.com/articles/adm-has-made-takeover-approach-to-bunge-ltd-1516395567. 
  13. ↑ Pederson, Jay P. (2000). International Directory of Corporate Histories. 32. St. James Press. p. 57. https://books.google.com/books?id=z_XXAAAAMAAJ&q=John+W.+Daniels+began+crushing+flaxseed+to+make+linseed+oil+in+Ohio+in+1878. "Throughout the 1920s the company made steady purchases of oil processing companies in the Midwest while engaging in other agricultural activities." 
  14. ↑ 14.0 14.1 Kotrba, Ron; Bryan, Tom (April 1, 2006). "Holding Its Lead". Ethanol Producers Magazine. https://ethanolproducer.com/articles/1930/holding-its-lead. "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." 
  15. ↑ "Business: Commander to the Gulf". Time (magazine). June 27, 1932. 
  16. ↑ Sosland, Josh (2010-03-10). "ADM Milling closing N Kansas City mill". Baking Business. https://www.bakingbusiness.com/articles/39853-adm-milling-closing-n-kansas-city-mill. Retrieved 2023-04-20. 
  17. ↑ Mitchell, Julie A. (2001). Notable Corporate Chronologies. 1. Gale Group. p. 162. https://books.google.com/books?id=xeoaAQAAMAAJ&q=In+1930,+ADM+purchased+control+of+the+Commander-Larabee+Corp.++a+flour+miller+capable+of+producing+32,000+barrels+per+day.. "1930: ADM acquires the Commander - Larabee Co., a huge flour miller capable of producing 32,000 barrels per day." 
  18. ↑ 18.0 18.1 MacGree, Ernest A. (August 1947). "Vegetable Oil extraction solvents; History and general composition". Oil Mill Gazetter (International Association of Oil Mill Superintendents). https://ojs.library.tamu.edu/index.php/omg/article/view/718/643. "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." 
  19. ↑ Kotrba, Ron; Bryan, Tom (April 1, 2006). "Holding Its Lead". Ethanol Producers Magazine. https://ethanolproducer.com/articles/1930/holding-its-lead. "By 1952, ADM's workforce had grown to 5,000 employees." 
  20. ↑ Pederson, Jay P. (2000). International Directory of Corporate Histories. 32. St. James Press. p. 57. https://books.google.com/books?id=z_XXAAAAMAAJ&q=John+W.+Daniels+began+crushing+flaxseed+to+make+linseed+oil+in+Ohio+in+1878. "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." 
  21. ↑ Aoyagi, Akiko; Shurtleff, William (2020-08-07). History of ADM (Archer Daniels Midland Co.) and the Andreas Family's Work with Soybeans and Soyfoods (1884-2020). Soyinfo Center. p. 6. https://www.soyinfocenter.com/pdf/232/ADM.pdf. "1962 April – Archer Daniels Midland Co. introduces a new trademark and decides to consistently call itself “ADM” (Soybean Digest, p. 27)." 
  22. ↑ Reid, Tony (2022-09-30). "Decatur a central part of ADM's past, future". Herald & Review. https://herald-review.com/business/agriculture/decatur-a-central-part-of-adms-past-future/article_25838068-403a-11ed-abe3-db190aa75547.html. Retrieved 2023-04-21. 
  23. ↑ "Archer-Daniels-Midland: "ADM Has the Formulation Knowledge That Brings New and Exciting Products to Life" - vegconomist - the vegan business magazine". Vegconomist. 2021-12-02. https://vegconomist.com/interviews/archer-daniels-midland-adm-has-the-formulation-knowledge-that-brings-new-and-exciting-products-to-life/. Retrieved 2023-04-21. 
  24. ↑ Meersman, Tom (2016-11-29). "Obituary: Former ADM executive Dwayne Andreas had deep ties to Minnesota and Hubert Humphrey". Star Tribune. https://www.startribune.com/obituary-former-adm-executive-dwayne-andreas-had-deep-ties-to-minnesota-and-hubert-humphrey/403675706/. Retrieved 2023-04-21. 
  25. ↑ Gasparro, Annie (September 26, 2013). "ADM Leaves Decatur With Little Town Blues". The Wall Street Journal. https://www.wsj.com/articles/SB10001424052702304795804579097693592275378. "It moved its headquarters here from Minneapolis in 1969." 
  26. ↑ Perlman, Seth (March 1, 2017). "Archer Daniels Midland - 4,159 employees". Herald & Review. https://herald-review.com/archer-daniels-midland---4-159-employees/image_103e013c-430f-5dc8-be49-a923667802af.html. "ADM first found a home in Decatur in 1939 and in 1969 ADM moved its corporate offices and research laboratory to Decatur." 
  27. ↑ Aoyagi, Akiko; Shurtleff, William (2020-08-07). History of ADM (Archer Daniels Midland Co.) and the Andreas Family's Work with Soybeans and Soyfoods (1884-2020). Soyinfo Center. p. 8. https://www.soyinfocenter.com/pdf/232/ADM.pdf. "1972 – Dwayne Andreas is elected chairman of the board at ADM." 
  28. ↑ 28.0 28.1 Mercer, David (2016-11-16). "Dwayne Andreas, who transformed Archer Daniels Midland into global powerhouse, dies at 98". Washington Post. https://www.washingtonpost.com/business/dwayne-andreas-who-transformed-archer-daniels-midland-into-global-powerhouse-dies-at-98/2016/11/16/c0046a9e-ac48-11e6-8b45-f8e493f06fcd_story.html. Retrieved 2023-04-19. "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." 
  29. ↑ 29.0 29.1 Miller, Stephen (2016-11-16). "Dwayne Andreas, Who Made ADM World's Supermarket, Dies at 98". Bloomberg. https://www.bloomberg.com/news/articles/2016-11-16/dwayne-andreas-who-made-adm-world-s-supermarket-dies-at-98#xj4y7vzkg. Retrieved 2023-04-19. 
  30. ↑ Meersman, Tom (November 29, 2016). "Former ADM executive Dwayne Andreas had deep ties to Minnesota and Hubert Humphrey". Star Tribune. https://www.startribune.com/obituary-former-adm-executive-dwayne-andreas-had-deep-ties-to-minnesota-and-hubert-humphrey/403675706/. 
  31. ↑ Aoyagi, Akiko; Shurtleff, William (2020-08-07). History of ADM (Archer Daniels Midland Co.) and the Andreas Family's Work with Soybeans and Soyfoods (1884-2020). Soyinfo Center. p. 8. https://www.soyinfocenter.com/pdf/232/ADM.pdf. "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;" 
  32. ↑ Aoyagi, Akiko; Shurtleff, William (2020-08-07). History of ADM (Archer Daniels Midland Co.) and the Andreas Family's Work with Soybeans and Soyfoods (1884-2020). Soyinfo Center. p. 8. https://www.soyinfocenter.com/pdf/232/ADM.pdf. "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" 
  33. ↑ "Collingwood to Sell Units". https://www.oklahoman.com/story/news/1989/10/06/collingwood-to-sell-units/62596975007/. 
  34. ↑ "Archer Daniels Midland, Form 10-K, Annual Report, Filing Date Sep 20, 2002". secdatabase.com. http://edgar.secdatabase.com/1754/708402000017/filing-main.htm. 
  35. ↑ [failed verification] Roney, Marty (undated). "Alabama Farmers Want to Export More to Cuba". USA Today (via ABC News). Retrieved July 24, 2013.
  36. ↑ Eichenwald, Kurt (1997-04-18). "Andreas Retires as Chief of Archer Daniels". The New York Times. ISSN 0362-4331. https://www.nytimes.com/1997/04/18/business/andreas-retires-as-chief-of-archer-daniels.html. Retrieved 2023-04-21. 
  37. ↑ "Archer Daniels Midland, Form 8-K, Current Report, Filing Date May 1, 2006". secdatabase.com. http://pdf.secdatabase.com/1214/0000007084-06-000143.pdf. 
  38. ↑ 38.0 38.1 Henshaw, Caroline; Berry, Ian (December 20, 2012). "ADM, Graincorp CEOs Square Off". The Wall Street Journal: p. B2. 
  39. ↑ "Archer Daniels Midland, Form 8-K, Current Report, Filing Date Feb 6, 2007". secdatabase.com. http://edgar.secdatabase.com/2442/708407000038/filing-main.htm. 
  40. ↑ LUSVARDI, CHRIS (August 26, 2014). "ADM settles in at new Chicago headquarters" (in en). https://herald-review.com/news/local/adm-settles-in-at-new-chicago-headquarters/article_402173f1-5a88-5676-b1b3-f1cfcd6280e3.html. 
  41. ↑ "ADM buys ingredients company Wild Flavors for about $3 billion". 7 July 2014. http://www.chicagotribune.com/business/breaking/chi-adm-wild-flavors-20140707,0,1978824.story. 
  42. ↑ "Pat Woertz retiring; ADM names new CEO". 6 November 2014. http://www.chicagotribune.com/business/ct-adm-ceo-1107-biz--20141106-story.html. 
  43. ↑ "Juan R. Luciano". https://www.adm.com/our-company/senior-leadership/juan-luciano. 
  44. ↑ Hunt, Sarah McFarlane, Nigel (2015-10-16). "Olam completes acquisition of ADM's cocoa business" (in en). Reuters. https://www.reuters.com/article/us-cocoa-olam-intl-archer-daniels-idUSKCN0SA24Y20151016. 
  45. ↑ "ADM Completes Sale of Global Cocoa Business". http://www.adm.com/en-US/news/_layouts/PressReleaseDetail.aspx?ID=685. 
  46. ↑ "Deals of the day-Mergers and acquisitions" (in en). Reuters. 2017-01-31. https://www.reuters.com/article/deals-day-idUSL4N1FL1ZL. 
  47. ↑ 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). https://www.wsj.com/articles/adm-has-made-takeover-approach-to-bunge-ltd-1516395567?mod=WSJ_Markets_LEFTTopStories&tesla=y. 
  48. ↑ "ADM expands portfolio with $243 million acquisition of UK probiotics company". Herald & Review. June 29, 2018. https://herald-review.com/business/local/adm-expands-portfolio-with-243-million-acquisition-of-uk-probiotics-company/article_1a0122c7-ed25-531a-b9fe-15009b73e4cb.html. 
  49. ↑ "ADM to buy rest of UK grain merchant Gleadell from InVivo". Reuters. January 17, 2019. https://www.reuters.com/article/us-adm-gleadell/adm-to-buy-rest-of-uk-grain-merchant-gleadell-from-invivo-idUSKCN1PB0Z4. 
  50. ↑ de La Hamaide, Sybille (June 18, 2019). "ADM to cut jobs at animal feed unit Neovia in France". Reuters. https://www.reuters.com/article/us-france-adm/adm-to-cut-jobs-at-animal-feed-unit-neovia-in-france-idUSKCN1TJ15M. 
  51. ↑ "ADM says to focus on organic growth after acquisitions". Reuters. November 13, 2019. https://www.reuters.com/article/us-global-grain/adm-says-to-focus-on-organic-growth-after-acquisitions-idUSKBN1XN1JK. 
  52. ↑ "Grain Traders' Profits Rise as Ukraine War Tightens Global Food Supply". The Wall Street Journal. 27 April 2022. https://www.wsj.com/articles/grain-traders-profits-rise-as-ukraine-war-tightens-global-food-supply-11651073868. 
  53. ↑ "Experts say Ukraine war shows we need a new way to feed the world". Politico. 20 May 2022. https://www.politico.eu/article/expert-ukraine-war-need-new-way-feed-world/. 
  54. ↑ "DM's profit jumps 74% on higher grain prices and demand". Food Dive. 28 July 2022. https://www.fooddive.com/news/adms-profit-jumps-74-on-higher-grain-prices-and-demand/628294/. 
  55. ↑ "ADM to acquire dairy flavor firm Revela Foods" (in en). 2014-09-10. https://www.xm.com/research/markets/allNews/reuters/adm-to-acquire-dairy-flavor-firm-revela-foods-53721942. 
  56. ↑ "Archer Daniels Fined Over Clean-Air Rules". Los Angeles Times . January 13, 2001.
  57. ↑ Lee, Jennifer 8. (April 9, 2003). "2 Companies Said to Agree to Settle Suits on Emission". The New York Times . Retrieved July 24, 2013.
  58. ↑ 58.0 58.1 "Archer-Daniels-Midland Company's Sustainability Report for 2020Q4". https://assets.adm.com/Sustainability/3860041_20_Archer-Daniels-Midland_ESG-Report_WR.pdf.  Alt URL
  59. ↑ "Archer-Daniels-Midland Company's Sustainability Report for 2020Q4". https://assets.adm.com/Sustainability/3860041_20_Archer-Daniels-Midland_ESG-Report_WR.pdf.  Alt URL
  60. ↑ "Archer-Daniels-Midland Company's Sustainability Report for 2017Q4". https://assets.adm.com/Sustainability/2017-CSR-Final-5-14-18.pdf.  Alt URL
  61. ↑ "Archer-Daniels-Midland Company's Sustainability Report for 2018Q4". https://assets.adm.com/Sustainability/2018-Reports/2018-ADM-Sustainability-Report.pdf.  Alt URL
  62. ↑ "Archer-Daniels-Midland Company's Sustainability Report for 2020Q4". https://assets.adm.com/Sustainability/3860041_20_Archer-Daniels-Midland_ESG-Report_WR.pdf.  Alt URL
  63. ↑ "ARCHER DANIELS MIDLAND COMPANY: CO2 CAPTURE FROM BIOFUELS PRODUCTION AND STORAGE INTO THE MT. SIMON SANDSTONE". April 22, 2022. https://www.netl.doe.gov/projects/files/Project%20Fact%20Sheet.pdf. 
  64. ↑ Patrick, Alyssa (2023-03-20). "Council approves ADM CO2 sequestration project" (in en). https://www.wandtv.com/news/council-approves-adm-co2-sequestration-project/article_d6675e1c-c790-11ed-ae3a-5b6463d34c14.html. 
  65. ↑ "Daimler, ADM, Bayer to test Jatropha for biodiesel" (in en). Reuters. 2008-01-09. https://www.reuters.com/article/daimler-biodiesel-idUSL0932139720080109. 
  66. ↑ Sims, Bryan (February 11, 2008). "ADM, Daimler, Bayer partner to explore jatropha" (in en). http://www.biodieselmagazine.com/articles/2100/adm-daimler-bayer-partner-to-explore-jatropha. 
  67. ↑ "Acquisition adds natural flavors to Archer Daniels Midland portfolio". https://www.postandcourier.com/business/acquisition-adds-natural-flavors-to-archer-daniels-midland-portfolio/article_4524f8d8-6b5e-5e7b-8db1-ae528ac864c5.html. 
  68. ↑ Team, F. N. I. (2018-09-11). "Americas: ADM buys vanilla supplier" (in en-US). https://foodnewsinternational.com/2018/09/11/americas-adm-buys-vanilla-supplier/. 
  69. ↑ Fusaro, Dave (March 26, 2007). "ADM’s big bet on fuel". Food Processing . Retrieved June 6, 2007.
  70. ↑ 70.0 70.1 70.2 70.3 "UNITED STATES SECURITIES AND EXCHANGE COMMISSION : WASHINGTON, D. C. 20549 : FORM 10-K". https://www.sec.gov/Archives/edgar/data/7084/000000708412000034/adm10kfy12.htm. 
  71. ↑ "ADM first-quarter profit beats estimates, as CEO cites 'many unknowns' of pandemic" (in en). 2020-04-30. https://www.cnbc.com/2020/04/30/archer-daniels-midland-adm-earnings-q1-2020.html. 
  72. ↑ Huang, Lemon. "2021年全球甜味剂企业50强" (in zh). https://www.foodtalks.cn/news/foodnews/top_100/5646. 
  73. ↑ "Sues to dissolve Trust", New York Times. July 1, 1920. Retrieved 7/26/2015.
  74. ↑ Hunter-Gault, Charlayne (October 15, 1996). "ADM: Who's Next?". MacNeil/Lehrer Newshour (PBS). https://www.pbs.org/newshour/bb/business/october96/adm_10-15.html. 
  75. ↑ "Archer Daniels Midland Company. 2005 Annual Report". p. 52. http://www.adm.com/en-US/investors/shareholder_reports/Pages/default.aspx. 
  76. ↑ "The Serious Story Behind 'The Informant'". September 20, 2009. https://www.npr.org/templates/story/story.php?storyId=113005554. 
  77. ↑ Lawrence, Felicity (2011-06-01). "Argentina accuses world's largest grain traders of huge tax evasion" (in en-GB). The Guardian. ISSN 0261-3077. https://www.theguardian.com/business/2011/jun/01/argentina-accuses-grain-traders-tax-evasion. 
  78. ↑ Bloomberg L.P. (2013-03-25). "Grain exporters owe Argentina 951 million in taxes". https://www.bloomberg.com/news/articles/2013-03-25/grain-exporters-owe-argentina-951-million-in-taxes. 
  79. ↑ Public Eye (June 2019). "Agricultural Commodity Traders in Switzerland". https://www.publiceye.ch/fileadmin/doc/Agrarrohstoffe/2019_PublicEye_Agricultural-Commodity-Traders-in-Switzerland_Report.pdf. 
  80. ↑ Meredith, Sam (2018-08-31). "Argentina's peso has now fallen 52% against the dollar this year" (in en). https://www.cnbc.com/2018/08/31/argentinas-peso-has-fallen-108percent-against-the-dollar-so-far-this-year.html. 
  81. ↑ "Bunge Ltd (BG) 10K Annual Reports & 10Q SEC Filings" (in en-US). https://last10k.com/sec-filings/bg. 
  82. ↑ "SEC Charges Archer-Daniels-Midland Company With FCPA Violations, Filing Date Dec 20, 2013". SEC. https://www.sec.gov/News/PressRelease/Detail/PressRelease/1370540535139#.Urbo_7QtqCl. 
  83. ↑ "ADM Subsidiary Pleads Guilty to Conspiracy to Violate the Foreign Corrupt Practices Act". December 20, 2013. https://www.justice.gov/opa/pr/adm-subsidiary-pleads-guilty-conspiracy-violate-foreign-corrupt-practices-act. 
  84. ↑ Public Eye (June 2019). "Agricultural Commodity Traders in Switzerland". https://www.publiceye.ch/fileadmin/doc/Agrarrohstoffe/2019_PublicEye_Agricultural-Commodity-Traders-in-Switzerland_Report.pdf. 
  85. ↑ "ADM Subsidiary Pleads Guilty to Conspiracy to Violate the Foreign Corrupt Practices Act" (in en). 2013-12-20. https://www.justice.gov/opa/pr/adm-subsidiary-pleads-guilty-conspiracy-violate-foreign-corrupt-practices-act. 
  86. ↑ 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." (in en). Washington Post. https://www.washingtonpost.com/climate-environment/interactive/2021/sonny-perdue-adm-land-deal/. 
  87. ↑ Veloso, Tarso; Melin, Anders (January 24, 2024). "ADM Unit Being Probed Helped Make Leaders More Than $70 Million". Bloomberg News. https://www.bloomberg.com/news/articles/2024-01-24/adm-partially-tied-equity-bonuses-to-growth-in-unit-at-center-of-probe. 
  88. ↑ Casey, Simon; Veloso, Tarso; Freitas Jr., Gerson (January 23, 2024). "ADM Probe Highlights Struggle to Expand Beyond Crop Trading". Bloomberg News. https://www.bloomberg.com/news/articles/2024-01-23/adm-probe-highlights-struggle-to-expand-beyond-commodity-trading. 

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