Continuing to seek opportunities for profitable growth
DECATUR, Ill.--(BUSINESS WIRE)--In a presentation to investors at the Deutsche Bank 7th Annual Global Consumer Conference in Paris today, executives of Archer Daniels Midland Company (NYSE: ADM) outlined the Company’s plan for profitable growth, laying out an agenda that includes acquisition and organic expansion. The executives also announced the return of flexibility to repurchase shares.
“We continue to aggressively pursue profitable growth. We are advancing our efforts to expand the types and volumes of crops we originate and process, the size and global footprint of our core model, and the range of products we make from crops,” said Steve Mills, ADM executive vice president and chief financial officer. “Today, we’re discussing that plan as well as our flexibility to repurchase stock.
“We are committed to growing our business and to building shareholder value. ADM’s strong earnings performance and recent debt buybacks have further improved our already-strong credit metrics. We will use our enhanced financial flexibility to expand the asset base, to buy shares, or to do both. After a period of limited ability to buy our own stock, we again have the option to repurchase shares, which we can use along with organic growth and acquisitions to deliver value to our shareholders. The ultimate size of the buyback will depend on a variety of factors including share price and market conditions.”
Regarding ADM’s overall plans for profitable growth, the Company continues to seek investment opportunities that build upon the strength of its core business model of crop origination and processing. “We will expand our origination and processing activities as market demand grows, or as acquisition opportunities present themselves. And we’ll continue to work to identify additional opportunities that can connect to and leverage this value chain,” said Mills.
In the recent past, the Company has executed on its profitable growth strategy through additions to its transportation network, its oilseeds processing footprint, its ethanol production capacity and its slate of renewable chemicals.
Every day, the 28,000 people of Archer Daniels Midland Company (NYSE: ADM) turn crops into renewable products that meet the demands of a growing world. At more than 230 processing plants, we convert corn, oilseeds, wheat and cocoa into products for food, animal feed, chemical and energy uses. We operate the world’s premier crop origination and transportation network, connecting crops and markets in more than 60 countries. Our global headquarters is in Decatur, Illinois, and our net sales for the fiscal year ended June 30, 2009, were $69 billion. For more information about our Company and our products, visit www.adm.com.
Archer Daniels Midland Company
ADM Media Relations, 217-424-5413