Business

ADM restructures business groups

The grain company still faces tight margins

A truck drives away from the Archer Daniels Midland Co. (ADM) corn processing plant in Peoria, Illinois, in July. Profit excluding certain items in the fourth quarter fell to 61 cents a share from $1 a year earlier, Chicago-based ADM said Tuesday in a statement. Must credit: Bloomberg photo by Daniel Acker.
A truck drives away from the Archer Daniels Midland Co. (ADM) corn processing plant in Peoria, Illinois, in July. Profit excluding certain items in the fourth quarter fell to 61 cents a share from $1 a year earlier, Chicago-based ADM said Tuesday in a statement. Must credit: Bloomberg photo by Daniel Acker.

Archer Daniels Midland, with corn processing facilities in Cedar Rapids, said on Monday it would restructure its business units and named several new division heads, as the U.S. agricultural merchant continues to fight against tight margins in the grains sector.

The Chicago-based company said it was realigning its business segments across four units — carbohydrate solutions, nutrition, oilseeds and origination.

“We have made tremendous progress over the last several years in creating a more agile and efficient company, and these changes position us to build on that momentum,” ADM Chairman and CEO Juan Luciano said in a statement.

CONTINUE READING

MORE Business ARTICLES TO READ NEXT ...

Many U.S. businesses may be surprised to learn that the European Union's new data privacy rules could impact them, too. The EU's General Data Protection Regulation (GDPR) will take effect May 25 and imposes strict new rules about ...

Chinese investors are pumping money into U.S. drug start-ups as Beijing seeks to become a global leader in new medicines, adding to a flood of cash flowing to groundbreaking health businesses.Venture-capital funds based in China p ...

Give us feedback

We value your trust and work hard to provide fair, accurate coverage. If you have found an error or omission in our reporting, tell us here.

Or if you have a story idea we should look into? Tell us here.