ADM completes secondary block trade of portion of Wilmar’s ownership for US$550m

USA – The Archer-Daniels-Midland Company (ADM), an American global food processing and commodities trading corporation, has completed the sale of its secondary block trade of shares in its Singapore-based agribusiness joint-venture, Wilmar, for approximately US$550 million. Following the transaction, ADM will retain at least a 20% strategic ownership stake in the company. In 2018, ADM chairman and CEO Juan Luciano told investors that ADM’s stake in Wilmar had surpassed the 25% mark which was a milestone in the company’s growth journey. ADM expects to use the net proceeds from the deal…

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ADM partners with Indian plant-based meat venture Imagine Meats to expand its footprints

INDIA – Archer Daniels Midland Company (ADM), global food processing and commodities trading corporation, has partnered with Imagine Meats, a plant-based meat venture in India, as it focuses on global expansion. As the meatless movement breaks into the Indian market, Imagine Meats is leveraging ADM’s portfolio of protein ingredients and applications labs to create traditional Indian dishes and other popular products like kebabs, biryanis and curries, reports FoodIngredientsFirst. “Although 70 percent of the population in India is still non-vegetarian, the country’s meat industry is facing increasing competition from plant-based solutions,” Sanjay Laud, Managing Director at ADM…

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De Heus Animal Nutrition acquires ADM’s compound feed operations in Indonesia

INDONESIA – Dutch animal nutrition company, De Heus Animal Nutrition has completed the acquisition of the compound feed operations of Neovia Indonesia (PT Welgro Feedmill and PT Wirifa Sakti) from ADM. The acquisition further strengthens De Heus’ position in Indonesia with two compound feed mills located in West-Java and East-Java that generated total sales volume of 125,000 tonnes in 2019. Neovia Indonesia focus mainly on the poultry, aqua and swine feed segments. It is estimated that the size of the animal feed market in Indonesia will increase from 19 million…

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Marfrig and ADM create plant-based food products joint venture

USA – Marfrig, the second largest Brazilian food processing company and Chicago-based global nutrition company ADM have announced an agreement to create PlantPlus Foods, a joint venture for the sale of plant-based food products across South American and North American markets. The new joint venture biulds on Marfrig and ADM’s successful history of working together to develop and produce sustainable, plant-based foods in South America. In August last year, the companies announced a partnership for the production and sale of plant-based protein products in Brazil. Now with PlantPlus Foods, ADM…

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ADM announces new goals to reduce water intensity, landfill waste

USA – ADM has announced a set of new commitments to reduce water intensity by 10% and achieve a 90% landfill diversion rate by 2035 as part of an aggressive plan to continue to reduce the company’s environmental footprint. The commitments were announced as part of the company’s Corporate Sustainability Report, which also includes updates on ADM’s overall sustainability journey. “The importance of these commitments becomes even clearer amid an unprecedented challenge such as the COVID-19 pandemic,” said Chairman and CEO Juan Luciano. “Companies like ADM are playing a critical…

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ADM to reduce ethanol grind in response to market conditions

USA – ADM has unveiled that it is currently managing ethanol production throughout its US corn processing network to focus on cash flows and to divert corn grind to other products that are in higher demand, such as alcohol for hand sanitizer. The food processing company and agricultural commodity trader said that the move is part of its response to the challenging operating environment. As part of this process, ADM has announced suspension of ethanol production at the company’s corn dry mill facilities in Cedar Rapids, Iowa, and Columbus, Nebraska.…

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Covantis launches as legal entity, announces CEO and executive appointments

SWITZERLAND – Covantis, the industry initiative that aims to modernize global agribusiness trade operations, has announced that it has received all required regulatory approvals and has incorporated as a legal entity in Geneva, Switzerland, as Covantis SA. Covantis was introduced by the founding members of the trade initiative; ADM, Bunge, Cargill, COFCO International, Louis Dreyfus Company and Glencore Agriculture as the new project’s name last December. Now incorporated as a legal entity, Covantis has also announced its governance structure and executive appointments and has named Petya Sechanova as the company’s…

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ADM unveils new plan to cut greenhouse gas emissions, energy consumption

USA – Multinational agricultural trader and food processor, ADM has advanced its sustainability commitments with new ambitious plan to reduce its absolute global greenhouse gas emissions by 25% and energy intensity by 15% by 2035. The Chicago-based company noted that the new goals follow on its original 2011 sustainability plan, in which the company committed to per-unit improvements in energy use, greenhouse gas emissions, water and waste to landfill by 2020. Among ADM’s goal was to reduce emissions intensity by 15% over the 2010 baseline by 2020. After meeting those…

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ADM, Givaudan commit funds to aid in COVID-19 response globally

WORLD – Chicago-based agricultural commodity trader and food processor, ADM and Swiss flavor and fragrance producer, Givaudan have joined the global efforts in response to the Coronavirus (COVID-19) pandemic. ADM has announced that it is has committed a total of approximately US$1 million to various organizations involved in the fight against COVID-19. The company’s contributions include commitments to the COVID-19 Solidarity Response Fund for the World Health Organization (WHO) various regional and local charities focusing on COVID-19 in the areas where ADM operates. The company said that it has additionally…

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Alternative meat and dairy food tech company Nature’s Fynd raises US$80m

USA – Nature’s Fynd, a Chicago-based food tech company making a new-to-the-world protein from a microbe originally discovered in the geothermal springs of Yellowstone’s ancient volcano, has raised US$80 million in a Series B funding round. The investment round was co-led by Generation Investment Management and Breakthrough Energy Ventures, and will enable to Nature’s Fynd commercialize its food and beverage products across breakfast, lunch, dinner, and snack occasions. The company emerged out of NASA supported research into organisms that thrive in the extreme environmental conditions of Yellowstone National Park’s geothermal…

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