type public traded as nyse adm s & p 500 component industry food processing commodities founded minneapolis minnesota united states 1902 1902 headquarters 77 west wacker drive chicago illinois united states key people juan luciano president and ceo products corn syrup high fructose corn syrup feed ethanol bioenergy food . revenue us 67.702 billion 2015 1 operating income us 1.810 billion 2015 1 net income us 1.849 billion 2015 1 total assets us 40.157 billion 2015 1 total equity us 17.899 billion 2015 1 number of employees 32 300 2016 1 website adm.com the archer daniels midland company adm is an american global food processing and commodities trading corporation headquartered in chicago illinois . 2 3 4 the company operates more than 270 plants and 420 crop procurement facilities worldwide where cereal grains and oilseeds are processed into products used in food beverage nutraceutical industrial and animal feed markets worldwide . it was named the world s most admired food production company by fortune magazine for three consecutive years 2009 2010 and 2011 . 5 the company also provides agricultural storage and transportation services . the american river transportation company along with adm trucking inc. are subsidiaries of adm. contents 1 products 1.1 oilseeds processing 1.2 corn processing 1.3 agricultural services 1.4 other products 1.4.1 investor services 1.4.2 insurance services 2 history 3 criticism 3.1 sherman antitrust law violation 3.2 price fixing 3.3 violation of the foreign corrupt practices act 3.4 environmental record 3.5 agricultural subsidies 4 see also 5 references 6 external links products edit products include oils and meal from soybeans cottonseed sunflower seeds canola peanuts flaxseed palm kernel and diacylglycerol dag oil as well as corn germ corn gluten feed pellets syrup starch glucose dextrose crystalline dextrose high fructose corn syrup sweeteners cocoa liquor cocoa powder cocoa butter chocolate ethanol and wheat flour . end uses are consumption by people and livestock and additives for fuel . long known as a food and ingredients company it has also invested in fuel production . adm nearly doubled capital spending in its 2007 budget to an estimated 1.12 billion . the increase is planned for bioenergy projects focusing on bioethanol and biodiesel . 6 oilseeds processing edit the oilseeds processing segment includes global activities related to the origination merchandising crushing and further processing of oilseeds such as soybeans and soft seeds cottonseed sunflower seed canola rapeseed and flaxseed into vegetable oils and protein meals . 7 corn processing edit adm s corn processing segment is engaged in corn wet milling and dry milling activities with its asset base primarily located in the central part of the united states . the corn processing segment converts corn into sweeteners and starches and bioproducts . its products include ingredients used in the food and beverage industry including sweeteners starch syrup glucose and dextrose . dextrose and starch are used by the corn processing segment as feedstocks for its bioproducts operations . 7 agricultural services edit adm s agricultural services segment uses its u.s. grain elevator global transportation network and port operations to buy store clean and transport agricultural commodities such as oilseeds corn wheat milo oats rice and barley and resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry . 7 other products edit investor services edit adm investor services inc. is a registered futures commission merchant and a clearing member of all principal commodities exchanges in the u.s. adm investor services international ltd. a member of commodity exchanges and clearing houses in europe and admis hong kong limited offer broker services in europe and asia . 7 insurance services edit adm s captive insurance services which include agrinational insurance company agrinational provides insurance coverage for certain property casualty marine credit and other miscellaneous risks of the company and participates in certain third party reinsurance arrangements . adm s crop risk services is a managing general agent which sells and services crop insurance policies to farmers . 7 history edit in 1902 george a. archer and john w. daniels began a linseed crushing business in minneapolis minnesota . in 1923 archer daniels linseed company acquired midland linseed products company and the archer daniels midland company was formed . adm expanded its agribusiness to include milling processing specialty food ingredients and cocoa . 8 chief executive officers started name 1970 dwayne andreas 1997 g. allen andreas 2006 patricia a. woertz 2015 juan luciano in 1970 dwayne andreas became the chief executive officer of adm and is credited with transforming the firm into an industrial powerhouse . andreas remained ceo until 1997 before his nephew g. allen andreas was named to this position . 9 he was one of the most prominent political campaign donors in the united states 10 having contributed millions of dollars to democratic and republican candidates alike . in 2001 paul b. mulhollem became the company s president . 11 under his guidance the company was the first u.s. company to sign a contract with cuba since the embargo against cuba was imposed october 1960 . 12 in may 2006 patricia a. woertz became the company s chief executive officer . 13 14 formerly of chevron she was expected to focus on developing ethanol and biofuels . in february 2007 ms. woertz was elected chairman of the board at adm. 15 starting in october 2012 the company sought to acquire strategic holdings to support serving asian markets through acquisition of graincorp an australian grain firm with a network of storage and port facilities in australia . 14 on 29 nov 2013 this acquisition was blocked by the australian treasurer . on july 7 2014 the company said that it will buy swiss german natural ingredient company wild flavors for 3 billion a move aimed at diversifying the company and helping brands appeal to consumers who increasingly favor foods with natural ingredients and flavorings . 16 on november 5 2014 adm announced that effective january 1 2015 juan luciano will become the company s new ceo . 17 luciano was hired on in 2011 as the company s chief operating officer . woertz will retain the position of chairman of the board until 2016 when she is expecting to retire . in october 2015 adm announced the sale of its global cocoa business to olam . the sale is valued at about 1.2 billion . approximately 1 500 employees transferred to olam with the sale . 18 criticism edit sherman antitrust law violation edit in 1920 the us department of justice brought suit against the national linseed oil trust for violating the sherman antitrust act . several co defendants were named including the archer daniels manufacturing company . the suit alleged all of these companies were acting in collusion to raise prices citing a spike in linseed oil costs between 1916 and 1918 when the price rose from .50 per gallon to 1.80 . 19 price fixing edit see also lysine price fixing conspiracy in 1993 the company was the subject of a lysine price fixing investigation by the u.s. justice department . senior adm executives were indicted on criminal charges for engaging in price fixing within the international lysine market . three of adm s top officials including vice chairman michael andreas were eventually sentenced to federal prison in 1999 . moreover in 1997 the company was fined 100 million the largest antitrust fine in u.s. history at the time . 20 mark whitacre fbi informant and whistleblower of the lysine price fixing conspiracy would also find himself in legal trouble for embezzling money from adm during his time as an informant for the fbi . in addition according to adm s 2005 annual report a settlement was reached under which adm paid 400 million in 2005 to settle a class action antitrust suit . 21 the informant is a nonfiction thriller book 22 that documents the mid 1990s lysine price fixing conspiracy case and the involvement of adm executive mark whitacre . the book was adapted into the 2009 film the informant . this case has also been featured on episode 168 of this american life called the fix is in . violation of the foreign corrupt practices act edit on december 20 2013 the sec announced that it had charged adm for failing to prevent illicit payments bribes made by its foreign subsidiaries to ukrainian government officials in violation of the fcpa . adm agreed to pay more than 36 million to settle the sec s charges . 23 environmental record edit the company has been the subject of several major federal lawsuits related to air pollution . in 2001 it agreed to pay a 1.46 million fine for violating federal and illinois clean air regulations at its decatur feed plant and to spend 1.6 million to reduce air pollution there . 24 in 2003 the company settled federal air pollution complaints related to the its efforts to avoid new source review provisions of the clean air act that require pollution control upgrades when a plant is modernized . the company paid 4.5 million in penalties and more than 6 million to support environmental projects . in addition adm agreed to eliminate more than 60 000 tons of emissions of carbon monoxide particulate matter organic volatile chemicals and other pollutants from 42 plants in 17 states at a cost of hundreds of millions of dollars . 25 adm is involved in a joint project with daimler ag and bayer cropscience to develop jatropha as a biofuel . 26 in an attempt to reduce its carbon footprint the company has partnered with the midwest geological sequestration association and other organizations to test the disposal of carbon dioxide emissions underground . if testing is successful beginning in late 2010 the company expected to dispose of 1 000 metric tons per day of carbon dioxide emissions currently being released to the atmosphere . 27 agricultural subsidies edit the company lobbies for agricultural subsidies and price supports including sugar and ethanol . according to a 1995 report by the libertarian think tank cato institute adm has cost the american economy billions of dollars since 1980 and has indirectly cost americans tens of billions of dollars in higher prices and higher taxes over that same period . at least 43 percent of adm s annual profits are from products heavily subsidized or protected by the american government . moreover every 1 of profits earned by adm s corn sweetener operation costs consumers 10 and every 1 of profits earned by its bioethanol operation costs taxpayers 30 . 28 see also edit companies portal food portal illinois portal list of illinois companies list of s & p 500 companies references edit a b c d e f archer daniels midland form 10 k annual report filing date aug 27 2012 pdf . secdatabase.com . retrieved january 13 2013 . corporate headquarters . archer daniels midland . retrieved december 23 2010 . corporate headquarters archer daniels midland company 4666 faries parkway decatur il 62526 united states of america . zoning map pdf . city of decatur . march 17 2008 retrieved december 23 2010 . decatur city illinois . u.s. census bureau . retrieved december 23 2010 . press release march 3 2011 . adm again named world s most admired food production company . archer daniels midland . retrieved july 24 2013 . fusaro dave march 26 2007 . adm s big bet on fuel . food processing . retrieved june 6 2007 . a b c d e united states securities and exchange commission washington d. c. 20549 form 10 k . sec.gov . retrieved 2015 11 30 . history . adm. 2007 08 17 . retrieved 2015 11 30 . archer daniels midland form def 14a filing date sep 17 1997 . secdatabase.com . retrieved january 13 2013 . dwayne andreas so you want to buy a president frontline archer daniels midland form 10 k annual report filing date sep 20 2002 .