Archer 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.
Sugar producers settle battle with high-fructose corn syrup, Bloomberg says Sugar producers have settled a legal dispute with high-fructose corn syrup makers including Archer-Daniels Midland after accusing the HFCS firms of misusing the term "natural," reports Bloomberg. Though terms of the settlement were unclear, Bloomberg noted the sugar companies had sought $1.6B in damages while ADM and other co-defendants had sought $531M. Reference Link