“ADM has a foundational culture of execution and innovation, but even more important is the unwavering commitment our colleagues to deliver our purpose to unlock the power of nature to enrich the quality of life. Awards like this are a true reflection of how our teams live out our values every day, and I’m immensely proud of our colleagues around the world for earning this honor once again.”

said Chairman and CEO Juan Luciano.

The 100 Best Corporate Citizens ranking is based on 155 ESG factors in eight pillars: climate change, employee relations, environment, finance, governance, human rights, stakeholders and society, and ESG performance.

Using a methodology developed by 3BL Media, all Russell 1000 Index companies are researched by ISS ESG, the responsible investment research arm of Institutional Shareholder Services. There is no fee for companies to be included in 100 Best Corporate Citizens.

To compile the ranking, corporate data and information is obtained from publicly available sources only, rather than questionnaires or company submissions. Companies have the option to verify data collected for the ranking at no cost. Data and information used in the 2022 edition of the 100 Best Corporate Citizens ranking is from March 19, 2021 to March 18, 2022.

“Achieving the transformational targets in the Paris Agreement and UN Sustainable Development Goals in this decisive decade requires all companies to truly embed ESG issues into the core of their business. The 100 Best Corporate Citizens of 2022 are answering the call by demonstrating the societal and bottom-line value of leadership and transparency around ESG topics. They are setting ambitious goals, outlining robust strategies for achieving them, disclosing data to measure progress, and accounting for all stakeholders in business decisions.”

said Dave Armon, CEO of 3BL Media.

The post ADM Named Shortlisted in the 100 Best Corporate Citizens for the Third Consecutive Time appeared first on North America FarmQuip Magazine.

“Vikram has a deep understanding of ADM’s business having served in leadership roles throughout our finance organization and in key growth areas such as nutrition and health and wellness,” 
“He has a strong drive for results balanced with strategic orientation and has consistently raised the bar for his team and the organization as a whole. He is an ideal executive to lead ADM into our next phase of growth.”

said Chairman and CEO Juan Luciano.

Luthar joined ADM in 2004 as vice president and treasurer and has since served in a variety of senior-level positions. His leadership in both Strategy and Investor Relations have been instrumental in setting the current strategic trajectory for ADM, and his management as president of ADM’s Health & Wellness and Bioactives businesses helped launch and accelerate long-term platforms tied to critical consumer trends. As chief financial officer for Nutrition, Luthar has also led with financial agility across ADM’s fastest-growing business unit.

Prior to ADM, Luthar spent nearly a decade with General Motors in treasury and regional finance leadership positions. He holds a bachelor’s of technology in aerospace engineering from the Indian Institute of Technology and an MBA from the Wharton School at the University of Pennsylvania.

The appointment is effective immediately. Young will support Luthar during the transition and then turn his focus to providing strategic counsel on major initiatives critical to ADM’s future success in his role as Vice Chairman.

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Companies to Explore Opportunities to Develop Technologies, Products and Services for Farmers to Support Profitable, Sustainable Agriculture

ADM and Farmers Business Network announced that ADM has made an equity investment as part of FBN’s latest capital funding raise and that the companies have signed a letter of intent to expand their existing relationship through a wide range of potential future areas of cooperation.

This partnership combines ADM’s scale and expertise across the global food and agriculture value chain with FBN’s cutting-edge digital farm commerce and data-analytics capabilities to identify opportunities to increase farmer profitability, expand sustainable agricultural practices, and provide farmers unprecedented convenience and product accessibility.

ADM and FBN have agreed to examine several areas of collaboration, including developing premium end markets for low-carbon grain that will reward farmers for the adoption of regenerative practices.

They will also explore working together to advance innovative technologies, like those currently offered through FBN’s Gradable platform, to improve access and data security for producers who market grain to ADM locations. Other areas of potential cooperation include:

• Enabling FBN’s 30,000 farmers to conveniently sell grain to ADM’s extensive network of origination facilities with full digital transactional record-keeping, sustainability tracking, and payments through FBN’s Gradable Platform;
• Advancing research to develop new biologicals, seed traits, fertilizers, and crop protection products;
• Enabling FBN farmers to conveniently and transparently purchase ADM products such as fertilizer and animal nutrition with FBN’s leading e-commerce and finance platform; and
• Increasing farmer convenience and input product access by leveraging ADM’s substantial physical distribution network for FBN farmers.

“Differentiated grain and sustainable solutions are two of ADM’s strategic growth platforms, and FBN is the perfect partner to help power our success as we work together to find new ways to cultivate incremental value for stakeholders across the food, sustainable solutions, and agricultural value chain. We’ve already been working with FBN and producers to connect verifiable low-carbon crops with market demand, and now we’re excited to explore new areas of growth, from digital technology and analytics to e-commerce, to shared infrastructure and geographical expansion,”

said Greg Morris, president of ADM’s Ag Services & Oilseeds business.

“Our mission as a company is to improve the profitability of family farms around the world for generations to come and this partnership with ADM promises to accelerate the development of our technologies, including our grain and sustainability platforms, that are designed to increase farmers’ profit potential. This partnership enables us to double down on putting farmers first by further investing in technologies that lower costs, improve transparency, and create local community development opportunities in rural areas,”

said Amol Deshpande, FBN co-founder, and CEO.

The companies are also continuing their pilot program, launched earlier this year, to use FBN’s Gradable platform to measure and verify the carbon score of soybeans, and to connect farmers with customers eager to purchase low-carbon intensity crops and products that command premium prices.

“Producers have played a leading role in advancing sustainable agricultural practices, and now we have new tools to quantify the beneficial impact they’re having on the environment so we can go to market differently. We’re excited to work with FBN to advance these innovative technologies, and we look forward to doing even more to help support producers,”

Morris added.

ADM’s minority investment in FBN is being made via ADM Ventures, the company’s corporate venture capital arm. ADM Ventures invests in cutting-edge startups with disruptive technologies across three key areas: human nutrition, animal nutrition, and sustainability. ADM Ventures also seeks startups that utilize ADM’s assets and feedstocks to produce sustainable materials, in addition to technologies that enhance the effectiveness or efficiency of ADM’s operations.

The post ADM Invests in and Expands Partnership with Farmers Business Network appeared first on North America FarmQuip Magazine.

Based in Spiritwood, ND, the approximately $350 million crush and refining complex will feature state-of-the-art automation technology and have the capacity to process 150,000 bushels of soybeans per day. Strategically located in a major soybean producing area, ADM’s global logistics network will enable the facility to access both domestic and global markets for soybean oil and meal. The facility is expected to be complete prior to the 2023 harvest.

“ADM’s commitment to preserving and protecting our planet’s resources stretches from the farm gate to the food on our tables and the renewable fuel we put in our vehicles,”

said Greg Morris, president of ADM’s Ag Services & Oilseeds business.

“This exciting new project allows us to partner with North Dakota farmers to further advance the role of agriculture in addressing climate change through the production of low carbon feedstocks for products such as renewable diesel.”

“This soybean processing plant is a gamechanger for North Dakota farmers, adding value and expanding the market for this important crop closer to home while also supporting the production of products such as renewable green diesel right here in North Dakota,”

said North Dakota Governor Doug Burgum.

“Now, with innovative leader ADM and collaboration with local economic development and multiple state agencies, this exciting value-added project has come to fruition. We’re deeply grateful for ADM’s investment in our state and our highly productive farmers as well as the tireless efforts of so many who helped make this happen, including the Office of State Tax Commissioner, the Jamestown/Stutsman County Development Corp., North Dakota Department of Commerce, North Dakota Department of Agriculture, Lt. Gov. Brent Sanford, the state Legislature, and our entire congressional delegation.”

“We’ve been working to bring this new soybean crushing facility to North Dakota and met with key leaders from ADM over two years ago to develop this plan,”

said Senator John Hoeven.

“We’re pleased that this new plant will be open in 2023, as it will provide a significant new market for North Dakota soybean growers, while creating good jobs and economic growth. We appreciate the work of ADM, as well as the governor, the other members of the delegation and the Jamestown/Stutsman Development Corporation for their efforts on this exciting new opportunity.”

ADM also plans to invest approximately $25 million to expand refining and storage capacity at its crush and refining facility in Quincy, Illinois. This project will fully align the location’s refining capabilities with its crush capacity and allow for greater flexibility in meeting the needs of ADM’s food, biofuel and industrial customers. The expanded capacity is expected to be online by Q1 2022.

“ADM has an unparalleled opportunity to lead our industry in this area, and thanks to our extensive operational and commercial expertise, we are well-positioned to add these shovel-ready projects to our network and meet the fast-growing needs of customers worldwide for lower carbon, plant-based solutions,”

Morris added.

The post ADM to Build a New Soy Crushing Facility in North Dakota appeared first on North America FarmQuip Magazine.

The event, The Future of Food is Now: How ESG Strategies, Smart Investments, and EU Policies are Shaping Global Food Systems, will be held on Tuesday, March 16, at 9 a.m. U.S. Central Time, 3 p.m. Central European Time.

The session will feature:

• Ray Young, Chief Financial Officer, ADM;
• Claire Bury, Deputy Director General for Food Safety in the EU Directorate General;
• François Perrin, Head of ESG, Groupe Bruxelles Lambert;
• Jennifer Morris, CEO, The Nature Conservancy;
• Moderator Neil Hume, Financial Times Natural Resources Editor.

Speakers will discuss how organizations across public and private sectors are developing new approaches to social impact and sustainability strategies that address growing and evolving needs across global food systems, and consider the steps being taken to create mutually beneficial ESG strategies between the industry and investors.

Whether it be the EU Green Deal’s “Farm to Fork” strategy, ambitious new sustainability goals, or shifting priorities in investments, 2021 is set to shape our food system for a generation.

The post ADM and Financial Times Partner Together For The Digital Event on Future of Food appeared first on North America FarmQuip Magazine.

Will complete in-progress work to focus solely on meeting the demand for liquid and encapsulated lysine products

ADM announced it will end the production of dry lysine in the first half of 2021, focusing solely on customer needs for liquid and encapsulated lysine products.

Pierre Joseph Paoli, president, Feed Ingredients and Additives, said:

“Animal nutrition is a growing and evolving industry, and as a global leader in this space, we’re proud to meet customer needs with modern, innovative products. We’re seeing good growth from existing and new customers, and we’ve received great feedback as we’ve worked closely with producers to transition them to our liquid lysine products and delivery systems, as well as to our innovative new encapsulated lysine products. Simultaneously, market conditions for dry lysine have eroded, as global industry capacity has expanded faster than demand. We are pleased to continue to invest to serve our customers with cutting-edge ingredients and services, while simultaneously refocusing and strengthening this segment of our Animal Nutrition business portfolio.”

Throughout 2020, ADM has been working closely with swine and poultry feed producers to transition to liquid lysine, installing equipment in their plants and providing them with superior service through the company’s Online Inventory Management System. In addition, the company continues to introduce new, highly effective differentiated solutions for dairy cows, including NutriPass L, a market-leading encapsulated lysine product that delivers a consistent supply of metabolized lysine to the animal. The company will continue working with customers to ensure a seamless transition within its product portfolio before ending production of dry lysine.

Lysine is an essential amino acid in nutrition. It is used to address the nutrient requirements of the animal and improve production performance for producers to deliver milk, meat, and eggs to consumers.

The post ADM to End Production of Dry Lysine in Early 2021 appeared first on North America FarmQuip Magazine.

“We are very pleased to launch this ambitious project, working alongside ADM and Illinois state partners as InnovaFeed expands to provide sustainable solutions to meet the fast-growing demand for insect feed in the US and worldwide. Around the world, InnovaFeed is contributing to the emergence of sustainable food systems by developing a pioneering and sustainable industry. Our new operations in Illinois, a global leader and destination for agriculture, will allow us to take the next steps to innovate and grow our business.”

said Clement Ray, CEO, and co-founder of InnovaFeed.

“At a time when the demand for animal feed protein is steadily increasing, insect farming stands out as a true solution for the future. We’re excited to work with InnovaFeed on this ambitious project, which further expands our participation in the growing market for animal food and feed that comes from responsible, sustainable sources. It’s a great demonstration of how ADM is expanding its value chain by offering opportunities for collaboration to leading, innovative startups. It’s yet another example of how we’re constantly identifying new ways to create value from corn, oilseeds, and more. And of course, we’re extremely proud that we can help bring this new, job-creating project to Decatur, the home of our North American headquarters.”

said Chris Cuddy, ADM senior vice president and president of the company’s Carbohydrate Solutions business.

Insect feed has become an increasingly popular protein ingredient for the agriculture and aquaculture industries, as demand for animal feed has now reached an all-time high and consumers look for food that is sustainably and responsibly grown. InnovaFeed already operates two insect production facilities in France, including what is today the world’s largest. The Decatur facility represents InnovaFeed’s first international project.

“InnovaFeed’s decision to bring their first-ever international facility and state-of-the-art agriculture technology to Illinois is a vote of confidence for our state, and a win for our farming communities. Illinois has always been a global leader in agriculture and technology, and we offer the resources to support this major international expansion – with an educated workforce, proximity to global businesses like ADM, and access to shipping and logistics. The investments InnovaFeed is making in Decatur will not only support our thriving agriculture industry – a cornerstone of our economy – but will unlock new well-paying jobs for our communities.”

said Governor JB Pritzker.

Construction of the new high-capacity facility is expected to create more than 280 direct and 400 indirect jobs in the Decatur region by the second phase. The Illinois Department of Commerce and Economic Opportunity (DCEO) and the Illinois workNet Center will partner with InnovaFeed to develop recruiting strategies as well as on-the-job training programs. DCEO also partnered with InnovaFeed through an EDGE agreement to support this large-scale capital investment. Locally, InnovaFeed will benefit from the Decatur-Macon County Enterprise Zone and customized incentive opportunities from the City of Decatur and Economic Development Corporation of Decatur-Macon County.

Construction is targeted to begin in 2021, pending necessary permitting and approvals. Construction and production will come in two phases. When both are complete, the plant would have a target annual production capacity of 60,000 metric tons of animal feed protein derived from Hermetia Illucens, a type of fly with exceptional nutritional qualities; the plant will also have the capability to produce 20,000 metric tons every year of oils for poultry and swine rations, and 400,000 metric tons of fertilizer.

“Illinois remains open for business, and companies continue to choose Illinois for growth based on our industry strengths, talent, education, and access to infrastructure. With agriculture, a leading industry and employer for communities across our state, these investments by InnovaFeed to bring their one-of-a-kind technology will support our farmers and those who rely upon farms. We look forward to partnering with the company on ensuring our local residents have access to jobs and economic opportunity created by this exciting new project in Decatur.”

said Illinois Department of Commerce & Economic Opportunity Director Erin Guthrie.

“The city of Decatur is pleased to partner with InnovaFeed to bring this unique and innovative facility to our community. Not only will this project fuel both direct and indirect job creation, but it affirms that our best prospects for creating new jobs are in the agri-business sector, in partnership with our existing businesses, in a city that is an ideal place for groundbreaking advanced manufacturing. ADM, the State of Illinois, the Economic Development Corporation of Decatur-Macon County, and the City of Decatur worked together to bring this plant to Decatur. Our concierge approach results in joint incentive opportunities to support InnovaFeed’s infrastructure and operational needs.”

said Decatur Mayor Julie Moore Wolfe.

The plant will be built using an innovative model of industrial collaboration that InnovaFeed has already demonstrated in other facilities enabling the French Biotech company to produce the insect protein with the lowest carbon footprint on the market. The plant will be co-located with ADM’s Decatur corn complex, with complementary infrastructure that will allow ADM to directly provide corn by-products to supply InnovaFeed’s innovative insect rearing process, as well as waste heat and steam. This collaborative operating model will enable the InnovaFeed facility to reduce CO2 emissions by 80 percent versus standalone production.

Source: ADM

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ADM Chairman and CEO Juan Luciano:

“We are exceptionally pleased with our longstanding relationship with Wilmar. This transaction provides ADM with additional capital while retaining that strong relationship. We have no plans to sell additional Wilmar shares, and look forward to continuing our partnership for years to come.”

Wilmar—Asia’s leading agribusiness and packaged food oils company—is a strategic partner and one of ADM’s largest customers. ADM first partnered with Wilmar and its affiliated companies in the early 1990s when they jointly built a network of soybean processing operations in China, and ADM has been a significant investor in Wilmar since 1994. Today, Wilmar is a key component of ADM’s strategy in emerging markets, including Asia Pacific; an important trade partner; and co-owner of joint venture Olenex, a major European provider of specialty oils.

ADM expects to use the net proceeds from the transaction for general corporate purposes, which may include, without limitation, meeting its working capital requirements; funding its capital expenditures and possible acquisitions of, or investments in, business and assets; and acquiring outstanding shares of ADM common stock as part of its publicly announced stock repurchase program. ADM will retain at least a 20 percent equity investment in Wilmar.

The Wilmar ordinary shares sold pursuant in the transaction have not been and will not be registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S) absent registration or an applicable exemption from registration requirements.

The post ADM completes previously announced secondary block trade appeared first on North America FarmQuip Magazine.

ADM expects to use the net proceeds from the Block Trade for general corporate purposes, which may include, without limitation, meeting its working capital requirements, funding its capital expenditures and possible acquisitions of, or investments in, businesses and assets, and acquiring outstanding shares of ADM common stock as part of its publicly announced stock repurchase program.

ADM also announced that ADM Ag proposes to conduct an offering (the “Offering“) of approximately US$300,000,000 aggregate principal amount of Zero Coupon Exchangeable Bonds (the “Bonds“) outside of the United States to non-U.S. persons in reliance on Regulation S.

ADM expects to use the net proceeds from the Offering for general corporate purposes, which may include, without limitation, meeting its working capital requirements, funding its capital expenditures and possible acquisitions of, or investments in, business and assets and repaying indebtedness originally incurred for general corporate purposes.

The Bonds will constitute senior obligations of ADM Ag, ranking equally with all other unsecured and unsubordinated obligations of ADM Ag, present and future. ADM will unconditionally and irrevocably guarantee (the “Guarantee“) the payment of all sums payable under the Bonds and the performance of all of ADM Ag’s other obligations under the Bonds. The obligations of ADM under such Guarantee will constitute senior obligations of ADM, ranking equally with all other unsecured and unsubordinated monetary obligations of ADM, present and future.

Subject to and upon compliance with the terms and conditions of the Bonds and any conditions, procedures and certifications prescribed thereunder, the Bonds will be exchangeable for Shares. On the exercise of their exchange rights, holders of the Bonds will be entitled to receive a stipulated number of Shares for each US$200,000 principal amount of the Bonds, such number which will be determined upon a successful pricing of the Bonds (and subject to further adjustments in accordance with its terms).

The commercial terms of the Offering (including the aggregate principal amount and maturity of the Bonds and the initial exchange property underlying the Bonds) will be determined through a bookbuilding process.

In connection with and for the purpose of facilitating the Offering, ADM APac will enter into a stock borrow arrangement (the “Stock Borrow Arrangement“) with an affiliate of one of the joint lead managers of the Offering, over a number of Shares equivalent to the initial total number of Shares to be delivered upon exchange of the Bonds. The entry by ADM APac into the Stock Borrow Arrangement is conditioned upon the pricing of the Offering but is not conditioned upon the closing of the Offering.

ADM expects that it will retain at least 20% of the equity interest in Wilmar after giving effect to the Offering, including any subsequent exchange of Bonds, and the Block Trade. ADM can offer no assurance that the Offering or the Block Trade will be consummated. The completion of the Block Trade is not conditioned upon the closing of the Offering.

The Shares to be sold pursuant to the Block Trade Agreement, the Bonds, the Guarantee, the Shares to be delivered upon exchange of the Bonds, and the Shares to be lent pursuant to the Stock Borrow Arrangement have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S), absent registration or an applicable exemption from registration requirements.

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