Archer Daniels Posts 138% Jump in 1Q09 Profit on Higher Sales and Improved Margins, an Industrial Info News Alert
Researched by Industrial Info Resources (Sugar Land, Texas) — Agricultural processor Archer Daniels Midland Company (NYSE:ADM) (Decatur, Illinois) reported on November 4 that its first-quarter 2009 profit jumped 138% to $1.05 billion from $414 million in the same period last year on increased sales and improved margins. “While around us we see uncertainty and change, we remain well positioned and confident because of the fundamental strengths of our company, our global network, our business model, our strong financial position and, driving it all, the insight and expertise of our people to capture the opportunities and create value,” Chairman and CEO Patricia Woertz said. As part of our North American Project Database, Industrial Info is tracking seven active Archer Daniels projects worth $409 million. The projects range from $1 million maintenance shutdowns to a $300 million coal-fired cogeneration unit addition at an alcohol and ethanol plant.
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SOURCE: Industrial Info Resources