Dwayne Andreas period (1970–1997) ĭwayne Andreas was named CEO of ADM in 1970, and two years later was elected chairman of the company's board. In 1969, ADM relocated its headquarters from Minneapolis to Decatur, Illinois, a location closer to the company's soybean processing operations. In 1966, Dwayne Andreas and his brother Lowell Andreas became minority shareholders in ADM. In 1965, ADM registered the original patent for textured vegetable protein and began producing the soy flour product at its Decatur East Plant by 1966. In 1962, the company acquired a trademark for "ADM" and began referring to itself by those initials. īy 1952, Archer Daniel Midland's workforce had expanded to 5,000 employees, and by 1952 the company was operating overseas and manufacturing over 700 products. The rapid development of similar extraction plants soon followed. In 1934 the company began operating its first continuous solvent extraction plant in Chicago, Illinois and could now produce soybean oil. In 1930, ADM purchased control of the flour milling company Commander-Larabee Corp., which was capable of producing 32,000 barrels of flour per day. A series of acquisitions over the next several years expanded the company's oil processing capabilities and agricultural operations, and a grain division was established in 1927. In 1924, ADM was listed on the New York Stock Exchange. The new corporation had total assets exceeding $11 million and controlled just over a third (35%) of the total linseed mill capacity within the United States. In 1923, Archer-Daniels Linseed Company acquired Midland Linseed Products Company and then incorporated as the Archer Daniels Midland Company.
Archer joined the operation the next year, and in 1905 the firm's name officially became the Archer-Daniels Linseed Company. Daniels started a linseed crushing business in Minneapolis, Minnesota. The American River Transportation Company along with ADM Trucking, Inc., are subsidiaries of ADM.ĪDM has been the subject of significant media attention and infamy over the years with its various scandals, one inspiring a novel and subsequent film The Informant!. The company also provides agricultural storage and transportation services. 35 in the 2023 Fortune 500 list of the largest United States corporations. 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.ĪDM ranked No. The Archer-Daniels-Midland Company, commonly known as ADM, is an American multinational food processing and commodities trading corporation founded in 1902 and headquartered in Chicago, Illinois. Logo variant used in the corporate website Former corporate logo
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