AFRICA'S NO.1 FOOD, BEVERAGE & MILLING INDUSTRY MAGAZINE

ADM to acquire soy ingredient company Sojaprotein to bolster position in alternative proteins market

Jul 26, 2021Jul 26, 2021 Editor

SERBIA – Archer Daniels Midland (ADM) has announced plans to acquire Serbia-based non-GMO soy ingredients group Sojaprotein even as it looks to strengthen its position in the alternative protein sector. Founded in 1977, Sojaprotein offers a variety of non-GMO soy ingredients for European and global customers in the meat alternative, confectionery, protein bar, pharmaceutical, pet food and animal feed segments. Its acquisition will accelerate ADM’s growth in the alternative proteins space where it already has an impressive portfolio which includes a soy protein complex in Brazil; a pea protein plant in the US ; its PlantPlus Foods joint venture; and partnerships…

ADM to invest US$350m in soybean crashing capacity to meet rising demand

May 12, 2021May 12, 2021 Editor

US – Archer Daniels Midland (ADM) has announced that it will invest approximately US$350 million to build a new soybean crushing plant in North Dakota, US. The leading multinational food processing and commodities trading corporation said the new soybean plant will cater to increasing demand from the food, feed and biofuel industries. Based in Spiritwood, the crush and refining complex will reportedly feature ‘state-of-the-art’ automation technology and will have the capacity to process 150,000 bushels of soybeans per day. Construction of the facility, which ADM says is ‘strategically located’ in…

ADM’s reports 76% rise in net earnings, expands feed premix offering with new acquisition

Apr 30, 2021Apr 30, 2021 Editor

US — Agricultural commodities trading giant ADM started the year on a high note and has reported an impressive year-over-year earnings and sales growth during the first quarter of fiscal 2021. Net earnings attributable to ADM in the first quarter ended March 31 jumped 76% to US$689 million from US$391 million recorded in the same period a year ago. Revenues for the first quarter, on the other hand surged 26%, climbing to US$18.89 billion from $14.97 billion. “I’m pleased to share with you results that demonstrate an outstanding start to…

ADM opens new research lab in Singapore to advance protein innovation

Apr 25, 2021Apr 25, 2021 Editor

SINGAPORE – Archer Daniels Midland (ADM) has opened a new plant-based innovation lab within its Biopolis research hub in Singapore, as it looks to advance protein innovation. The American based commodities trading giant says the lab will develop ‘next-level, on-trend and nutritious’ plant-based products, tailor-made for the Asian consumer palate. The Biopolis research hub, where the new protein innovation lab will be located, was launched in 2018, and houses a number of labs – including a food and flavour analytics hub, a beverage and dairy applications lab, a bakery and…

JBS, ADM double down on sustainability commitments in new push towards achieving carbon neutrality

Mar 26, 2021Mar 26, 2021 Editor

BRAZIL – Food multinational companies, JBS and ADM have made new sustainability commitments as part of efforts aimed at ridding their processes of carbon emissions which have been associated with environmental pollution and climate change. On its part, JBS, which is the world’s largest processor of fresh beef and pork, has committed to achieving net-zero greenhouse gas emissions by 2040. The company says it supports its commitment with an investment of more than US$1 billion over the next decade. The commitment spans the company’s global operations including Pilgrim’s Pride, as…

Air Protein raises US$32m in funding round led by ADM, to develop a meat alternative out of thin air

Jan 8, 2021Jan 8, 2021 Editor

US – California based Food technology start-up, Air Protein, has announced a US$32 million Series A funding round led by Archer Daniels Midland (ADM), with participation from Barclays and GV (formerly Google Ventures). The company, founded by former strategy consultant Lisa Dyson, who also has a doctorate in physics, is built around 1960s-era NASA research about how astronauts could convert carbon dioxide into food. The space agency looked at hydrogenotrophs — common microbes, some of which live in the human gut — that can be used to turn carbon dioxide…

Agricultural commoditites trader ADM partners InnovaFeed to build US insect protein plant

Nov 20, 2020Nov 20, 2020 Editor

US – Archer Daniels Midland, one of the world’s largest trader of agricultural commodities, in collaboration with InnovaFeed has unveiled plans to build a new insect protein facility in Decatur, Illinois, US. According to a statement from ADM, the new facility whose construction is targeted to begin in 2021 pending necessary permitting and approvals, will produce insect feed as a protein ingredient in animal feed. Once completed, the plant will have a target annual production capacity of 60,000 tonnes of animal feed protein derived from Hermetia Illucens. The plant will…

ADM unveils Wisium feed premix portfolio in Canada as corporate venture arm invests in microbiome focused fund

Nov 6, 2020Nov 6, 2020 Editor

CANADA – Archer Daniels Midland Co. (ADM) has unveiled its Wisium premix and nutrition services brand in eastern Canada even as its corporate venture capital arm, ADM Ventures injected funds into a microbiome focused fund. Following the launch, Wisium offerings will be now available in Quebec, Ontario and Maritimes include Transi Up, Egg Quality Concept, Feet Up, and PURlite. Near Infrared Technologies offering quick predictions of nutrient values to ensure quality of raw materials and finished feeds. In addition, Wisium will offer Near Infrared Technologies that provide quick predictions of…

ADM looks forward to a strong Q4 following a challenging third quarter

Nov 4, 2020Nov 4, 2020 Editor

US – American multinational food processing and commodities trading corporation Archer Daniels Midland Co. (ADM) has released Q3 results which depict a challenging quarter occasioned by the COVID-19 pandemic. The company’s net earnings for the third quarter ended September 30, 2020 dropped to US$225 million from a high of $407 million recorded in the same period a year ago. ADM’s revenue for the quarter slipped to US$15.12 billion compared to US$16.72 billion in the previous period. ADM’s Ag Services & Oilseeds business recorded strong quarterly results, posting earnings of $436…

ADM, Marfrig joint venture PlantPlus receives approval to offer plant-based foods in America

Oct 27, 2020Oct 27, 2020 Editor

US — American multinational food processing and commodities trading corporation, Archer Daniels Midland Co. and Marfrig have received regulatory approval for their PlantPlus Foods joint venture. The approval gives PlantPlus Foods the green light to offer a range of finished plant-based food products across North America and South America. “We’re excited to take this important step forward as we bring together the tremendous resources of two leaders in nutrition,” said Marcos Molina, founder and chairman of Marfrig. “PlantPlus Foods is born of two companies that had a common vision to…