World Grain - June 2015 - (Page 18)

NEWSREVIEW ADM makes management appointments in key areas CHICAGO, ILLINOIS, U.S. - Archer Daniels Midland Co. (ADM) announced on May 11 three management appointments to accelerate value creation in key areas. Gregory Morris has been named senior vice-president and president, Global Oilseeds. Vince Macciocchi has been named senior vice-president and president, WILD Flavors and Specialty Ingredients. Mark Bemis, senior vice-president and president, North America, has been named to the additional role of FKLHIULVNRI¿FHUDQG&KULV&XGG\SUHVLGHQWRI ADM's Corn Processing business unit, has been named a senior vice-president of the company. The appointments are effective immediately. Morris' scope of responsibility includes all commercial activity, operations and production for the company's Oilseeds Processing busiCuddy ness unit. Previously, Morris led the launch of the company's WILD Flavors and Specialty Ingredients (WFSI) business unit, which includes ADM's specialty ingredients businesses, as well as the company's WILD Flavors business, and ADM's portfolio of dried fruits, seeds, legumes and ancient grains. Morris joined ADM in 1995 and has held several senior-level merchandising and management positions since then. Prior to leading the launch Morris of WFSI, he served as ADM's president, North American Oilseeds Processing. "Greg has been with ADM for more than 20 years and has worked in three of our four business units. He was a leader on our Oilseeds team for over 17 years, serving as president of North American Oilseeds for more than two years, and building our foods and wellness business before we asked him to lead the launch of our WILD Flavors and Specialty Ingredients business unit," said ADM's President and Chief Executive 2I¿FHU-XDQ/XFLDQR³$VDOHDGHUKHLVERWKGLVFLSOLQHGDQGYLVLRQDU\ with a passionate commitment to his team and an exceptional sense of accountability for results. As he rejoins Global Oilseeds and works with the team's strong regional leadership, I am looking forward to their delivering our ambitious scorecard of strategic actions." Macciocchi has more than a quarter century of experience in the ingredients industry. He came to WILD as its North American chief opHUDWLQJ RI¿FHU LQ  3ULRU WR WKDW KH VSHQW PRUH WKDQ D GHFDGH DW *LYDXGDQÀDYRUV+HKDVDOVRKHOGSRVLWLRQVDW$PHULFDQ0DL]H3URGucts Company, Roquette America and Bemis was president of ADM's Corn Processing business unit. Before that, he served as president of ADM's Cocoa, Milling and Financial Services businesses; earlier, he was vice-president and general manager for ADM Cocoa North America. In addition, he has held various merchandising and management positions in the company's Agricultural Services, Malt, Corn Processing, and Oilseeds Processing businesses since joining ADM in 1983. He became a vice-president of the company in 2005, and a senior vice-president in 2010. Cuddy served as president, Sweeteners and Starches, in ADM's Corn Processing business unit. In that role, he was responsible for all commercial activities of the company's North American sweetener, starch, ¿EHUDQGDFLGXODQWEXVLQHVVHV Cuddy joined ADM in 1998 and held a variety of merchandising and management roles prior to leading the sweeteners and starches group, including president, Almidones Mexicanos, SA de CV (Almex), an ADM joint venture based in Guadalajara, Mexico. Before that, Cuddy was vice-president, ADM Corn Processing, managing the commercial activities of ADM's corn wet milling business, including sales, marketing and distribution of corn-based sweeteners and sugar. From 2000 to 2004, Cuddy served as North American sales manager, ADM BioProducts. He began his career with the company as a senior commodity trader with ADM Grain. ADM earnings surge on oilseed crush margins CHICAGO, ILLINOIS, U.S. - Strong oilseed crushing margins and global demand for soybean meal pushed Archer Daniels Midland Co.'s $'0  ¿UVWTXDUWHU QHW SUR¿W XS  WR  PLOOLRQ RU „ SHU VKDUHIURPPLOOLRQRU„D\HDUHDUOLHU 5HYHQXHGURSSHGDVWKHVWURQJGROODUOLPLWHG86JUDLQH[SRUWV DQG FRUQ SURFHVVLQJ SUR¿W IHOO RQ ZHDN HWKDQRO PDUJLQV DQG ORZHUELRIXHOSURGXFWLRQYROXPHV5HYHQXHGURSSHGWRELOOLRQ IURPELOOLRQD\HDUHDUOLHU([FOXGLQJRQHWLPHLWHPVHDUQLQJV LQFUHDVHGWR„SHUVKDUHIURP„D\HDUDJR ³,Q WKH ¿UVW TXDUWHU WKH$'0 WHDP GHPRQVWUDWHG WKHLU DELOLW\ WR OHYHUDJHWKHVWUHQJWKVRIRXUGLYHUVL¿HGEXVLQHVVPRGHO´VDLG$'0 &KLHI ([HFXWLYH 2I¿FHU -XDQ /XFLDQR ³7KH 2LOVHHGV WHDP FDSLWDOL]HGRQIDYRUDEOHPDUNHWFRQGLWLRQVDQGGHOLYHUHGRXWVWDQGLQJUHVXOWV with strong performances in each region. In Ag Services, our recently created global trade desk (GTD) platform drove higher merchandised volumes. Together, these performances helped deliver a good quarter overall, even as lower industry ethanol margins limited earnings in Corn, and the strong dollar limited U.S. grain exports." 2LOVHHGV RSHUDWLQJ SUR¿W RI  PLOOLRQ LQFUHDVHG  PLOOLRQ IURPVWURQJ\HDUDJRUHVXOWV&UXVKLQJDQGRULJLQDWLRQRSHUDWLQJSUR¿W LQFUHDVHGPLOOLRQWRPLOOLRQ6R\EHDQFUXVKLQJUHVXOWVIRU the quarter were the strongest ever, with record volumes in Europe and North America and strong margins globally, driven by strong U.S. and 18 JOREDOPHDOGHPDQG,PSURYHGIDUPHUVHOOLQJKHOSHGVXSSRUWDVLJQL¿cant improvement in South American origination results. 5H¿QLQJSDFNDJLQJELRGLHVHODQGRWKHUJHQHUDWHGDSUR¿WRI PLOOLRQIRUWKHTXDUWHUGRZQPLOOLRQ,PSURYHGELRGLHVHOUHVXOWV in South America - from the enactment of increased blending stanGDUGVLQ%UD]LO²ZHUHRIIVHWE\ORZHUPDUJLQVLQ1RUWK$PHULFD and weaker demand in Europe. Oilseeds results in Asia for the quarter improved from the year-ago period, primarily driven by stronger Wilmar results. $JULFXOWXUDO 6HUYLFHV RSHUDWLQJ SUR¿W ZDV  PLOOLRQ XS  million from the year-ago period. Merchandising and handling earnLQJVLPSURYHGPLOOLRQWRPLOOLRQ$'0 VQHZJOREDOWUDGH desk (GTD) merchandising platform saw increased volumes and margins. In North America, volumes and margins improved, despite a very active fourth quarter, the start of the South American harvest and the impact of a strong dollar on U.S. export competitiveness. 0LOOLQJDQGRWKHUUHVXOWVLPSURYHGPLOOLRQWRPLOOLRQGXH SULPDULO\WRVWURQJPDUJLQVIRUÀRXUJUDLQDQGIHHG &RUQ3URFHVVLQJRSHUDWLQJSUR¿WGHFUHDVHGIURPPLOOLRQWR PLOOLRQ6ZHHWHQHUVDQGVWDUFKHVUHVXOWVGHFOLQHGPLOOLRQWR PLOOLRQZLWKLQFUHDVHG1RUWK$PHULFDQYROXPHVRIIVHWE\ORZHU contributions from coproducts, reduced equity earnings from jointventures, and startup costs related to the Tianjin sweetener facility. June 2015 / World Grain /

Table of Contents for the Digital Edition of World Grain - June 2015

World Grain - June 2015
Table of Contents
From the Editor-in-chief - Flour output data points to eating trends
Calendar of Events
News review - Ceremony marks opening of Whitewater Mill
ADM plans extensive improvements at Argentina port
Dangote Flour Mills hurts Tiger’s earnings
GrainCorp Oils increasing oilseed crushing capacity
Noble Agri appoints former ADM executive as CEO Jansen
Hovis names new CEO
Southern Africa nations facing food shortage
EBRD provides loan to Turkish edible oil producer
Gruma full steam ahead on European expansion
Oilseeds, grains push Wilmar earnings up 49%
GrainCorp earnings drop on smaller crop
ADM makes management appointments in key areas
ADM earnings surge on oilseed crush margins
Bunge returns to profit on soybean crushing
GrainCorp plans upgrades at 13 sites
Grain Market Review - Rice
Country Focus - Argentina
Technical Profile - Crustless pan bread favored in Argentina
Feature - Bridging a Gap
Feature - Chinese Reforms Creating Market Uncertainties
Feature - Investing in Food Security
Feature - Grain Storage and Handling Projects
Feature - IAOM Conference 2015
Feature - China, currency impacting markets
Feature - A new plan for Egypt
Feature - Team approach to marketing for Canadian grains
Canadian wheat customers share their experiences
Feature - IAOM MEA District Conference & Expo
Feature - Traders Utilizing Exchanges More than Ever
Supplier News
Product Showcase
World Grain Archive
Advertiser Index

World Grain - June 2015