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May 22, 2014
09:07 EDTADMArcher Daniels says aiming for $400M cost savings run rate by year's end
Says has a balanced approach to capital allocation in FY14. Says on track to return $1.4B shareholders. Says expects FY14 CapEx of $1.2B, and that includes $100M for initial phase of ERP. Says aiming for $400M cost savings run rate by year end. Says the company is reviewing its cash conversion cycle in all businesses globally. Says identified additional $500M in opportunities and pursuing them aggressively. Says investing in growth that supports the company's return objectives, further enhancing shareholder value. Comments taken from the company's slides at the BMO Farm to Market conference.
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