US-based food processing and commodities trading company Archer Daniels Midland (ADM) has announced the creation of a new business unit by combining its origination and oilseed business operations.
Ag Services & Oilseeds will become effective from 1 July.
Archer Daniels Midland chairman and CEO Juan Luciano said: “ADM’s ability to provide value through the entire supply chain, from origination to processing to transportation to ingredients and solutions, is what sets us apart from others in the industry.
“Bringing the unparalleled strength of our global origination, global trade and destination marketing businesses and our transportation network together with our leadership in oilseeds processing and value-added product mix is a natural evolution.
“This helps us better integrate the supply and value chains to deliver significant simplification and efficiency to the day-to-day business. I am personally committed to the strategic value that simplification can bring to our organisation, and feel our ability to accelerate purposeful value creation within ADM has never been greater.”
ADM added that the creation of the business unit will accelerate value creation.
The Ag Services & Oilseeds business unit will be led by former ADM Oilseeds business president Greg Morris.
Last October, the grain producing companies Archer Daniels Midland Company (ADM) and Cargill agreed to form a technology joint venture (JV), Grainbridge.
The JV will provide grain marketing support, e-commerce and account management software to farmers in the US and Canada.
Grainbridge will focus on the development of digital tools, which will help farmers in North America to consolidate information on production economics and grain marketing activities into a single digital platform.
