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ADM Reviews Strategy At Deutsche Bank Presentation
21.06.2010 10:22 "Agro Perspectiva" (Kyiv) —
In a presentation to investors at the Deutsche Bank 7th Annual Global Consumer Conference in Paris today, executives of Archer Daniels Midland Company (NYSE: ADM) outlined the Company’s plan for profitable growth, laying out an agenda that includes acquisition and organic expansion. The executives also announced the return of flexibility to repurchase shares.
«We continue to aggressively pursue profitable growth. We are advancing our efforts to expand the types and volumes of crops we originate and process, the size and global footprint of our core model, and the range of products we make from crops,» said Steve Mills, ADM executive vice president and chief financial officer. "Today, we’re discussing that plan as well as our flexibility to repurchase stock.
«We are committed to growing our business and to building shareholder value. ADM’s strong earnings performance and recent debt buybacks have further improved our already-strong credit metrics. We will use our enhanced financial flexibility to expand the asset base, to buy shares, or to do both. After a period of limited ability to buy our own stock, we again have the option to repurchase shares, which we can use along with organic growth and acquisitions to deliver value to our shareholders. The ultimate size of the buyback will depend on a variety of factors including share price and market conditions.»
Regarding ADM’s overall plans for profitable growth, the Company continues to seek investment opportunities that build upon the strength of its core business model of crop origination and processing. «We will expand our origination and processing activities as market demand grows, or as acquisition opportunities present themselves. And we’ll continue to work to identify additional opportunities that can connect to and leverage this value chain,» said Mills.
In the recent past, the Company has executed on its profitable growth strategy through additions to its transportation network, its oilseeds processing footprint, its ethanol production capacity and its slate of renewable chemicals.
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