ADM history

The company was founded in 1923 and is headquartered in Decatur, IL, United States.

In 1924 ADM was listed on the New York Stock Exchange.

ADM purchased control of the flour milling company Commander-Larabee Corp. in 1930.

Profits in 1949 reached $12 million on sales of $277 million.

When President Thomas L. Daniels (son of the founder) and Chairperson Samuel Mairs celebrated Archer Daniels Midland's 50th anniversary in 1952, the company was manufacturing over 700 standard products and h ad extended its operations overseas.

In 1967, ADM bought Fleischmann Malting Co.

In 1971 it purchased Corn Sweeteners, Inc., producer of high-fructose syrups, glutens, oil, and caramel color.

1972: Andreas is elected chairman.

Profits reached $117 million in 1973 as the firm increased its domestic soybean production to 1.3 billion bushels per day.

1981: The Columbian Peanut Company is acquired.

1986: Company forms grain marketing joint venture with Growmar k.

To lobby for government support of ethanol, the Andreas family had made sizable donations to both Republican and Democratic parties in the 1992 election.

In 1994, the United States Environmental Protection Agency decreed that ethanol, one of ADM's key corn-based products, be combined with at least 10 percent of all gas purchased in the United States.

Th e scheme first came to light in 1995 when Mark E. Whitacre, a whistle blower for the FBI, was fired by ADM from his position as head of its BioProducts division for allegedly embezzling millions of dollars fr om the company.

1996: Company pleads guilty to two counts of fixing prices of lysine and citric acid and pays $100 million in criminal fines.

In mid-1997 ADM paid $470 mill ion for the cocoa business of W.R. Grace & Co., thereby entering the chocolate and cocoa industry.

By late 1998 the company had paid nearly another $100 million to settle lawsuits brought by customers and investors.

The product had been selling as an alternative to traditional vegetable oil in the Japanese market since 1999.

einhorn, cheryl. "a grain of hope: after 10 terrible years, adm poised for a comeback." barron's, 16 october 2000.

As stated in a September 2001 issue of Forbes, "Prudential Securities analyst John McMillan thinks the best is yet to come for Archer Daniels.

archer daniels midland homepage, 2002. available at http://www.admworld.com.

In another example of the "n ew" ADM and its emphasis on developing new products from natural, ren ewable resources, the company signed an agreement with Volkswagen AG in early 2004 to produce biodiesel, a combination of vegetable oil an d diesel fuel.

In 2005, ADM announced plans to build its first wholly owned biodiesel production facility, a plant expected to be construc ted in Velva, North Dakota.

In May 2006, Patricia A. Woertz became the company's chief executive officer.

Starting in October 2012, the company sought to acquire strategic holdings to support serving Asian markets through acquisition of GrainCorp, an Australian grain firm with a network of storage and port facilities in Australia.

On 29 Nov 2013, this acquisition was blocked by the Australian Treasurer.

On July 7, 2014, the company announced that it would buy Swiss-German natural ingredient company Wild Flavors for $3 billion, a move aimed at diversifying the company and helping brands appeal to consumers who increasingly favor foods with natural ingredients and flavorings.

In October 2015, ADM announced the sale of its global cocoa business to Olam International.

In January 2017, ADM agreed to sell its crop risk services (insurance) unit to Validus Holdings for $127.5 million.

In 2018 ADM agreed to purchase the British probiotic supplement company Probiotics International Limited for $243 million.

In 2019, ADM agreed to purchase the remaining 50 percent stake in British grain and oilseed producer Gleadell from the French company InVivo, and completed the acquisition of animal nutrition company Neovia for $1.54 billion euros (US$1.73 billion).