DECATUR, Ill., Dec. 16 /PRNewswire-FirstCall/ -- Archer Daniels Midland Company (NYSE: ADM) is pleased to announce the formation of the ADM Specialty Oils and Fats Group. The ADM Specialty Oils and Fats Group will serve its worldwide customers in the food, pharmaceutical and personal care industries with an extensive product portfolio derived from a wide variety of vegetable oil-based raw materials.
"The formation of this unit is an extension of our value-added line. The Specialty Oils and Fats Group will provide a variety of unique solutions to our customers' needs by focusing on research and technical expertise in addition to strong sales and marketing support," stated Larry Cunningham, Senior Vice President, Corporate Affairs.
These products will be manufactured at the following ADM operations: ADM Noblee in Hamburg, Germany, SIO in Arras, France and ADM's North American group in Quincy, Illinois.
Archer Daniels Midland Company (ADM) is a world leader in agricultural processing. The Company is one of the world's largest processors of soybeans, corn, wheat and cocoa. ADM is also a leader in soy meal and oil, ethanol, high fructose corn syrup (HFCS) and flour. In addition, ADM is building a position in such value-added products as specialty food ingredients, bioproducts and nutraceuticals (such as Vitamin E and sterols). Headquartered in Decatur, Illinois, ADM has over 24,000 employees, more than 260 processing plants and net sales for the fiscal year ended June 30, 2002 of $22.6 billion. Additional information can be found on ADM's Web site at http://www.admworld.com.