Archer Daniels's takeover of GrainCorp could be delayed, The Australian reports Archer Daniels Midland's (ADM) takeover of GrainCorp could be significantly delayed by the likely involvement of the Chinese Ministry of Commerce, The Australian reports. Reference Link
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Archer Daniels says added $200M cost savings expected by end 2014 Operational improvements are expected to enable Archer Daniels Midland to realize $200M in additional cost savings by the end of 2014, and to free up an additional $1B in cash by the end of 2013, the company said in advance of its presentation at the BMO Capital Markets 2013 Farm to Market Conference. The additional $200M is expected to come from reducing energy and water use; implementing a companywide maintenance-management system; standardizing processes, procedures and inventory controls; and leveraging the company’s scale in the area of procurement. The additional $1B in working cash improvements would bring the total the company has unlocked since mid-2012 to $2B, through better inventory-management; monetization of underutilized assets as part of an ongoing portfolio management effort; extracting cash from various joint ventures; and improved processes for managing payables and receivables.
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