Seeking Alpha

ADM doubles 2014 cost-savings target to $400M

  • Archer Daniels Midland (ADM +0.2%) says it is doubling its cost-cutting target for 2014, aiming for $400M in run-rate savings by year’s end.
  • ADM reached its earlier year-end goal of $200M in run-rate cost savings more than a half-year ahead of schedule through an emphasis on maintenance, procurement and improvements in energy efficiency and process technology, COO Juan Luciano says.
  • Based on ADM’s objective of achieving, on average, return on invested capital of 200 bps above its weighted average cost of capital, Luciana says ADM will aim to average a 10% ROIC when the U.S. interest rate environment returns to more normal historical levels.
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