Boston, MA 04/08/2014 (wallstreetpr) – With the ever expanding market and increasing demand for protein, Archer Daniels Midland Company (NYSE:ADM) has also turned a new leaf. It announced the plans for constructing the next soy protein complex. It has chosen to do so in Campo Grande, Brazil with a huge investment of over US$250 million. Although there is an existing soy processing facility, however ADM feels they both would complement each other. The new complex will deal with the production of protein concentrates and is believed to serve more to the customers.
Boerm appointed the president
Archer Daniels Midland Company (NYSE:ADM) has appointed Chris Boerm as the president. The company believes the president would look after the grain export business and its operation, thus increasing the business growth over time. Boerm has been associated with ADM from 1991.
New management appointments
ADM has announced 2 management appointments. Ian Pinner is now the vice president of the corporate and finance department. The vice president is expected to boost up the strategic growth and the business performance. The newly appointed vice president will also be leading the business plans. Moreover, Christina McGlone-Hahn has now been named the director for the strategic analysis. Ian Pinner has been associated with ADM since 1999 and had been serving as the president for the Grain.
Carbon storage project success
ADM has joined hands with its partners, some of those including the U.S. Sen. for celebrating the success of carbon storage project. With injecting over 750,000 metric tons of CO2 underground, which would have rather gone into the atmosphere, they seem to have really achieved what they wanted. The company believes that this is step forward for them in checking the aggregating CO2 levels.
Chill-Pro ( Biobased Heat Transfer Fluid)
ADM has introduced chill-pro which is made using ADM Evolution Chemicals. It is an USDA Certified heat transfer fluid. It has been made keeping in mind to provide excellent freeze protection.
Price target escalated from $45 to $50
Price target for ADM has now been increased from $45 to $50 by the CITI group. This has come up following a meeting with the management. Moreover Archer Daniels Midland Company (NYSE:ADM) might also increase the stakes in Australia’s GrainCorp.
