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ADM restructures business groups
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.
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.
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