Sat, Aug 23, 2014, 2:55 PM EDT - U.S. Markets closed

Recent

% | $
Quotes you view appear here for quick access.

Archer Daniels Midland Company Message Board

  • d8473572 d8473572 Feb 17, 2009 7:40 PM Flag

    ADM Plans For Exansion

    NEW YORK (Dow Jones)--Archer Daniels Midland Co. (ADM) may take advantage of the economic downturn to buy heavily discounted assets, Chief Financial Officer
    Steve Mills said Tuesday. Potential deals could bring ADM into new business
    areas, like ocean-shipping. "We believe that the current economic downturn
    may provide us with opportunities to grow our global footprint in an economic way," he said, addressing the annual conference of the Consumer Analyst Group
    of New York, in Boca Raton, Fla. ADM, a large user of ocean freight, has
    opted not to own its own fleet of ocean-faring ships in the past. The company
    is analyzing the possible purchase of a small fleet, Mills said. ADM also
    has the opportunity to buy assets in its established businesses at a fraction of their full value, Mills said. He noted that many U.S. corn-based ethanol plants are currently distressed, but said ADM sees long-term value in
    producing the fuel. Acquisitions in any part of ADM's business would be
    based on the idea that global agribusiness will become increasingly profitable as the economy improves (Dow Jones Newswires 05:26 PM ET 02/17/2009)

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I dont know about the future of ethanol, but the shipping supply line fits right in with adm core business. In any given year adm will make a business out of bringing ag commodities from areas of plenty to areas of need. If adm can take the advantage of distressed prices for some assets its going to max its growth potential. Shows how adm is one of the few companies in one of the few sectors that is going to grow even while the economy idles for a while. As long as they dont get over extended.
      long term this is good news, lots of synergy in having all the shipping ability.

 
ADM
49.14-0.43(-0.87%)Aug 22 4:00 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.