ADM creates new business unit Ag Services & Oilseeds

Archer Daniels Midland Company (NYSE: ADM) recently announced the creation of a new business unit called Ag Services & Oilseeds, which combines ADM's Origination and Oilseed business operations into a single reporting structure, effective July 1.

The new business unit will be led by Greg Morris, formerly president, Oilseeds for ADM.

"ADM's ability to provide value through the entire supply chain - from origination to processing to transportation to ingredients and solutions - is what sets us apart from others in the industry," said Chairman and CEO Juan Luciano.

"Bringing the unparalleled strength of our global origination, global trade and destination marketing businesses and our transportation network together with our leadership in oilseeds processing and value-added product mix is a natural evolution. This helps us better integrate the supply and value chains to deliver significant simplification and efficiency to the day-to-day business.

"I am personally committed to the strategic value that simplification can bring to our organization, and feel our ability to accelerate purposeful value creation within ADM has never been greater."