Archer-Daniels-Midland Company
Industry: Food Processing

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.

Business Summary
Archer-Daniels-Midland Company is principally engaged in procuring, transporting, storing, processing and merchandising agricultural commodities and products. The Company's operations are classified into three business segments: Oilseeds Processing, Corn Processing and Agricultural Services. A new line of trans-free fats and oils is being marketed under the NovaLipid brand using enzymatic interesterification technology. The Company has launched a new product for latex paint manufacturers, Archer RC. It entered into a joint development alliance with Metabolix to produce polyhydroxy alkanoate (PHA) via fermentation during the fiscal year ended June 30, 2005. Other new products include a wide range of health and nutrition products known as nutraceuticals or functional foods. The Company has formed a joint venture with Kao Corporation of Japan to manufacture and market diacylglycerol oil in America, Europe, Australia and New Zealand.

Financial Summary
ADM procures, transports, stores, processes and markets agricultural commodities and products such as oil seeds, corn, and wheat. For the FY ended 6/30/05, revenues fell 1% to $35.94B. Net income rose from $494.7M to $1.04B. Revenues reflect decline in Corn Processing due to lower lysine selling prices. Net income reflects improved margins, the absence of a charge related to the settlement of the fructose litigation and a gain on the sale of Tate & Lyle.