Source: ADM news release
CHICAGO — ADM (NYSE: ADM) today announced that it is taking actions to streamline and strengthen its global soy protein production network, enhancing efficiency and positioning itself to better serve customers worldwide by capitalizing on operational leverage and excellence at its recently recommissioned soy protein facility in Decatur, Illinois, as well as other facilities spanning its global network.
As it focuses on best-in-class service for customers from other facilities in which the company has invested, ADM plans to cease operations at its plant in Bushnell, Illinois. These changes, which are part of the company’s broader focus on optimizing and simplifying its portfolio, will allow ADM to consolidate its soy protein operations into a more efficient global network, while maintaining the ability to support growing global demand.
“Across ADM, we continue to advance our portfolio optimization initiatives and operational excellence agenda, including cost management, enhanced productivity, targeted simplification, strategic growth and capital discipline,” said Ian Pinner, president of ADM’s Nutrition business. “Optimizing our soy protein production network is an example of how we’re strengthening our asset platform, combining capital discipline with smart organic innovation and operational improvements to increase cash flows and returns.
“These decisive actions will help ensure we can continue delivering industry-leading innovative products to our customers while sharpening our competitive advantage. With our Decatur plant resuming operations, we expect operating profit to improve over time as we achieve manufacturing efficiencies and build back our Specialty Ingredients business.
“We are committed to a smooth, planned transition with any affected customers as we gradually wind down operations at our Bushnell facility, and look forward to serving them from our other invested assets,” Pinner continued. “We are prioritizing treating any affected colleagues with respect as we advance this process.”
About ADM
ADM unlocks the power of nature to enrich the quality of life. We’re an essential global agricultural supply chain manager and processor, providing food security by connecting local needs with global capabilities. We’re a premier human and animal nutrition provider, offering one of the industry’s broadest portfolios of ingredients and solutions from nature. We’re a trailblazer in health and well-being, with an industry-leading range of products for consumers looking for new ways to live healthier lives. We’re a cutting-edge innovator, guiding the way to a future of new bio-based consumer and industrial solutions. And we’re leading in business-driven sustainability efforts that support a strong agricultural sector, resilient supply chains, and a vast and growing bioeconomy. Around the globe, our expertise and innovation are meeting critical needs from harvest to home. Learn more at www.adm.com.
