Archer Daniels Midland
|Traded as||NYSE: ADM
S&P 500 Component
|Founded||Minneapolis, Minnesota (1902)|
|Headquarters||Decatur, Illinois, U.S.|
|Key people||Patricia Woertz
(Chairperson, President and CEO)
|Revenue||US$ 89.038 billion (FY 2012)|
|Operating income||US$ 4.021 billion (FY 2012)|
|Net income||US$ 1.223 billion (FY 2012)|
|Total assets||US$ 41.553 billion (FY 2012)|
|Total equity||US$ 18.169 billion (FY 2012)|
|Employees||30,000 (June 2012)|
The Archer Daniels Midland Company (ADM) is an American global food processing and commodities trading corporation headquartered in Decatur, Illinois. ADM 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 was named the world's most admired food production company by Fortune magazine for 3 consecutive years; 2009, 2010, and 2011.
ADM also provides agricultural storage and transportation services. The American River Transportation Company along with ADM Trucking, Inc. are subsidiaries of ADM. ADM's revenues for fiscal year 2012 were US $89 billion.
Products include oils and meal from soybeans, cottonseed, sunflower seeds, canola, peanuts, flaxseed, and Diacylglycerol (DAG) oil, as well as corn germ, corn gluten feed pellets, syrup, starch, glucose, dextrose, crystalline dextrose, High fructose corn syrup sweeteners, cocoa liquor, cocoa powder, cocoa butter, chocolate, ethanol, and wheat flour. End uses are consumption by people, livestock, and fuel additives.
Long known as a food and ingredients company, it recently 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.
In 1902, George A. Archer and John W. Daniels began a linseed crushing business. In 1923, Archer-Daniels Linseed Company acquired Midland Linseed Products Company, and the Archer Daniels Midland Company was formed. Every decade since its corporate inception, ADM has added at least one major profit source to its agribusiness: milling, processing, specialty food ingredients, cocoa, nutrition, and more.
|1997||G. Allen Andreas|
|2006||Patricia A. Woertz|
In 1970 Dwayne Andreas became Chief Executive Officer of ADM, and is credited with transforming the firm into an industrial powerhouse. Andreas remained CEO until 1997 before his nephew G. Allen Andreas was named to this position. He was one of the most prominent political campaign donors in the United States, having contributed millions of dollars to Democratic and Republican candidates alike.
In September 1999, executive Marty Andreas announced, under pressure from the European agricultural industry, they were going to separate crops into genetically modified and non-genetically modified groups to give their customers a choice. Previously the company had not disclosed their crop sources.
In 2001, Paul B. Mulhollem became the President of ADM. The Archer Daniels Midland Company made history by becoming the first U.S. company to sign a contract with Cuba since the embargo against Cuba was imposed October 1960. 
In May 2006, Patricia A. Woertz became CEO. Formerly of Chevron, she was expected to focus on developing ethanol and biofuels. In February 2007 Ms. Woertz was elected Chairman of the Board at ADM.
On 22 August 2011, Archer Daniels Midland announced that the soybean processing facility in Galesburg, Illinois was closing immediately, and its operations would be transferred to other ADM oilseeds facilities. The facility has been idle since April 2011. Some of the 31 employees will be offered the opportunity to transfer to other ADM facilities.
Starting in October 2012, ADM sought to acquire strategic holdings to support serving Asian markets through acquisition of GrainCorp, an Australian grain firm with a network of storage and port facilities in Australia.
In 1993, ADM 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. 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.
Using the investigation as an example, Ronald W. Cotterill of the Food Marketing Policy Center at the University of Connecticut shows that 100 percent or more of overcharges resulting from price fixing are passed through to consumers.
The Informant is a nonfiction thriller book written by journalist Kurt Eichenwald and published in 2000 by Random House that documents the mid-1990s lysine price-fixing conspiracy case and the involvement of Archer Daniels Midland executive Mark Whitacre. A 2009 movie adaptation of the book stars Matt Damon as Mark Whitacre.
Archer Daniels Midland has been the subject of several major federal lawsuits related to air pollution. In 2001 the company 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. In 2003, ADM settled federal air pollution complaints related to the company's 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, organic volatile chemicals and other pollutants from 42 plants in 17 states at a cost of hundreds of millions of dollars.
In an attempt to reduce its carbon footprint, ADM has teamed up with the Midwest Geological Sequestration Association and other organizations to test the disposal of carbon dioxide emissions underground. If testing is successful, beginning in late 2010 ADM expects to dispose of 1,000 metric tons per day of carbon dioxide emissions currently being released to the atmosphere.
ADM is a major purchaser and trader of agricultural commodities grown in former rainforests
ADM lobbies for agricultural subsidies and price supports including sugar and ethanol. According to a 1995 report by the libertarian think tank Cato Institute, "ADM has cost the American economy billions of dollars since 1980 and has indirectly cost Americans tens of billions of dollars in higher prices and higher taxes over that same period. At least 43 percent of ADM's annual profits are from products heavily subsidized or protected by the American government. Moreover, every $1 of profits earned by ADM's corn sweetener operation costs consumers $10, and every $1 of profits earned by its bioethanol operation costs taxpayers $30."
- "Archer Daniels Midland, Form 10-K, Annual Report, Filing Date Aug 27, 2012". secdatabase.com. Retrieved Jan 13, 2013.
- "Corporate Headquarters." Archer Daniels Midland. Retrieved on December 23, 2010. " Corporate Headquarters Archer Daniels Midland Company 4666 Faries Parkway Decatur, IL 62526 United States of America."
- "Zoning Map." City of Decatur. March 17, 2008 Retrieved on December 23, 2010.
- "Decatur city, Illinois." U.S. Census Bureau. Retrieved on December 23, 2010.
- "Archer Daniels Midland, Form 8-K, Current Report, Filing Date Dec 17, 2012". secdatabase.com. Retrieved Jan 13, 2013.
- Fusaro, Dave. "ADM’s big bet on fuel". Foodprocessing.com. Retrieved on June 6, 2007.
- "Archer Daniels Midland, Form DEF 14A, Filing Date Sep 17, 1997". secdatabase.com. Retrieved Jan 13, 2013.
- "Dwayne Andreas", So You Want to Buy a President?, Frontline
- "Archer Daniels Midland, Form 10-K, Annual Report, Filing Date Sep 20, 2002". secdatabase.com. Retrieved Jan 13, 2013.
- "Archer Daniels Midland, Form 8-K, Current Report, Filing Date May 1, 2006". secdatabase.com. Retrieved January 13, 2013.
- Caroline Henshaw; Ian Berry (December 20, 2012), "ADM, Graincorp CEOs Square Off", The Wall Street Journal (print ): B2
- "Archer Daniels Midland, Form 8-K, Current Report, Filing Date Feb 6, 2007". secdatabase.com. Retrieved January 13, 2013.
- John R. Pulliam and Eric Timmons, "ADM closing Galesburg soy facility" Peoria Journal Star, 22 August 2011.
- Hunter-Gault, Charlayne (October 15, 1996). "ADM: Who's Next?". MacNeil/Lehrer Newshour (PBS). Archived from the original on 30 September 2007. Retrieved 2007-10-17.
- Archer Daniels Midland Company. 2005 Annual Report. p. 52, note 15. See report at 
- Cotterill, Ronald W. "Estimation of Cost Pass Through to Michigan Consumers in the ADM Price Fixing Case". University of Connecticut. 1998. See paper at 
- Webber, Susan (2000-09-25). "Tale of the Tapes". The Daily Deal (Aurora Advisors, Inc.). Archived from the original on 6 October 2008. Retrieved 2008-10-02.
- "Archer Daniels Fined Over Clean-Air Rules." The Los Angeles Times, January 13, 2001.
- 2 Companies Said to Agree To Settle Suits on Emission. The New York Times, April 9, 2003. Retrieved on April 4, 2008.
- "Archer Daniels Midland Company, Bayer CropScience and Daimler to Cooperate in Jatropha Biodiesel Project". DaimlerChrysler.
- Archer Daniels Midland, Carbon-sequestration projects put innovative emissions-reduction technology to the test, accessed 26 February 2010
- Bovard, James. "Archer Daniels Midland: A Case Study In Corporate Welfare". Cato Policy Analysis No. 241. CATO Institute. September 26, 1995. See study at 
- Archer Daniels Midland website
- Archer Daniels Midland SEC Filings
- "Patents owned by Archer Daniels Midland". US Patent & Trademark Office. Retrieved December 6, 2005.