Archer Daniels Midland Company (NYSE: ADM) has completed the sale of the
Arkady and distilled monoglycerides businesses to Caravan Ingredients,
owned by CSM, a Dutch-based internationally operating company. The
Arkady and monoglycerides businesses formerly operated under ADM’s
Specialty Food Ingredients division. This sale includes the product
lines, such as bakery enhancers, mixes, enrichments and distilled
monoglycerides, in addition to existing customer base, brands,
trademarks and other intellectual property (IP) associated with this
business. No physical assets are being acquired.
“We are concentrating on growing our Company through areas where our
current expertise and market position add the greatest leverage for our
shareholders,” stated Mike Baroni, President-Specialty Food Ingredients.
ADM is selling the blending, monoglycerides and SSL business, which
represents approximately $50 million dollars in total sales, a small
portion of ADM’s Specialty Food Ingredients business. ADM will continue
to provide its customers with premier food ingredients for the baking
industry such as flour, sweeteners, oils, emulsifiers and proteins.
Archer Daniels Midland Company (ADM) is the world leader in BioEnergy
and has a premier position in the agricultural processing value chain.
ADM is one of the world’s largest processors of soybeans, corn, wheat
and cocoa. ADM is a leading manufacturer of biodiesel, ethanol, soybean
oil and meal, corn sweeteners, flour and other value-added food and feed
ingredients. Headquartered in Decatur, Illinois, ADM has over 26,000
employees, more than 240 processing plants and net sales for the fiscal
year ended June 30, 2006 of $37 billion. Additional information can be
found on ADM’s Web site at www.adm.com/.
ADM Media Relations