ADM Announces Beijing Office and Strategic Investment in Agricultural Bank of China

01.07.2010  |  Business Wire

Archer Daniels Midland Company (NYSE:ADM) today announced two key
actions that advance its strategy for profitable growth in China and
throughout Asia: the opening of a Beijing office; and a strategic
investment in, and memorandum of understanding with, the Agricultural
Bank of China.

'China′s agricultural market is growing in both supply and demand and
represents significant growth opportunities for ADM,? said ADM Chairman,
CEO and President Patricia Woertz. 'These actions position ADM well to
expand its participation in that growing market.?

Company to Open Beijing Office

The Company will open an office in Beijing in 2010, and has named Ismael
Roig to lead ADM′s Asian business and growth activities. Roig was named
vice president and executive director, Asia-Pacific, and will report to
John Rice, executive vice president, Commercial and Production. Roig
previously served as vice president, Planning and Business Development.

'Ismael′s strategic acumen and commitment to developing ADM′s business
will serve the Company well as we seek to grow with the Chinese market
and expand our presence in Asia overall,? said Rice.

ADM Makes Strategic Investment in Agricultural Bank of China

ADM also announced that it will make a US$100 million investment in
Agricultural Bank of China (ABC). ADM and ABC also announced an
agreement to advance both organizations′ plans for growth in China.

'This collaboration offers two leading supporters of agricultural growth
the ability to benefit from the insight and experience of one another,?
said Woertz. 'It provides an important vantage point to identify and act
on emerging opportunities.?

A memorandum of understanding, signed on June 11 in Beijing, set forth
the terms and objectives of the agreement, which are to advance
agricultural development and identify strategic growth opportunities in
China.

'ADM and ABC are based in different countries and industries, but we
share the same agriculture-related background and both are committed to
delivering the highest-standard agricultural products and services. This
solid ground provides a unique opportunity for our cooperation,? said
ABC Vice Chairman and President Zhang Yun.

About ADM

Every day, the 28,000 people of Archer Daniels Midland Company
(NYSE:ADM) turn crops into renewable products that meet the demands of a
growing world. At more than 230 processing plants, we convert corn,
oilseeds, wheat and cocoa into products for food, animal feed, chemical
and energy uses. We operate the world′s premier crop origination and
transportation network, connecting crops and markets in more than 60
countries. Our global headquarters is in Decatur, Illinois, and our net
sales for the fiscal year ended June 30, 2009, were $69 billion. For
more information about our Company and our products, visit www.adm.com.