DECATUR, Ill. (AP) — Agribusiness giant Archer Daniel Midland Company says that after 44 years in Decatur, Ill., it is looking for a new location for its headquarters.
CEO Patricia Woertz (WERTZ) says in a news release Monday that ADM needs what she called a global center with better access to customers and other employees around the world.
The company said in the release that it wouldn’t publicly discuss details about where it might relocate.
ADM is No. 27 on the Fortune 500.
ADM says the headquarters would have about 100 employees. The company would keep its workforce of about 4,400 in Decatur.
ADM is the central Illinois town’s largest employer.
Archer-Daniels-Midland Company manufactures and sells protein meal, vegetable oil, corn sweeteners, flour, biodiesel, ethanol, and other value-added food and feed ingredients; and processes oilseeds, corn, wheat, cocoa, and other agricultural commodities. The companys Oilseeds Processing segment originates, merchandises, crushes, and processes oilseeds, such as soybeans and soft seeds into vegetable oils and protein meals. Its products include oilseeds products; crude vegetable and salad oils; margarine, shortening, and other food products; partially refined oils; oilseed protein meals; cottonseed flour; and cotton cellulose pulp. This segment also blends fertilizers; procures and processes cocoa beans into cocoa liquor, cocoa butter, cocoa powder, chocolate, and various compounds; and supplies peanuts and peanut-derived ingredients, and agricultural commodity raw materials. Its Corn Processing segment converts corn into sweeteners, starches, and bio products. Its products include sweeteners, starch, syrup, glucose, and dextrose; alcohol, amino acids, and other specialty food and animal feed ingredients; ethyl alcohol; corn gluten feed and meals, and distillers grains; citric and lactic acids, lactates, sorbitol, xanthan gum, and glycols; propylene and ethylene glycol; and sugarcane ethanol. The companys Agricultural Services segment engages in buying, storing, cleaning, and transporting agricultural commodities, such as oilseeds, corn, wheat, milo, oats, rice, and barley; and reselling those commodities primarily as food and feed ingredients. This segment is also involved in the merchandising of agricultural commodities and processed products; origination and processing of wheat flour; and processing and distribution of formula feeds, animal health and nutrition products, and edible beans. Archer-Daniels-Midland Company also engages in futures commission merchant business. The company was founded in 1898 and is headquartered in Decatur, Illinois.
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