World Grain - December 2020 - 16

NEWSREVIEW

Mennel's new R&D director focused on growth
FOSTORIA, OHIO, US - The Mennel
Milling Co. recently selected Jim
Beauregard as director of research and development (R&D).
He has spent the last 30 years in the bakLQJLQGXVWU\DQG5	'¿HOG
In his new role, Beauregard oversees
an established R&D program and growBeauregard
ing team of R&D professionals based
at the Fostoria Flour Mill on Mennel's main campus. He is
also responsible for the execution of the division's innovation pillars, including milling engineering and bakery product development.
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as the leader of the research and development program, " said
Scott Obsorne, vice president of innovation. " R&D is a strategic platform within Mennel, and he steps into this role during
an exciting time as we look to push the boundaries of millLQJDQGEDNHU\VFLHQFH:HDUHDOUHDG\VHHLQJWKHEHQH¿WVRI
-LP¶VWHQXUHGH[SHULHQFHLQWKHÀRXUDQGEDNLQJLQGXVWU\DQG

are hopeful that this will translate to even bigger innovative
products, processes, capabilities and services. "
After just four months into serving as the division's director, Beauregard is celebrating some early wins.
" Whether it's taking a deeper dive into our supply chain
VWUXFWXUHRUHYDOXDWLQJRXUPLOOLQJV\VWHPVWRLQFUHDVHÀRXU
\LHOGV ZH¶YH WDFNOHG VRPH VLJQL¿FDQW SURMHFWV ZLWK WKH RSerations team and the results have been extremely positive, "
Beauregard said. " I was once a customer of Mennel's and remember being impressed by the quality of their products and
VHUYLFHVDVZHOODVWKHWHFKQLFDOVXSSRUWWKH\R൵HUHG
" Now that I am here and have had a chance to work alongside folks at all levels of the organization, I can see that Mennel
truly hires to their ideals and treats their employees well. "
Beauregard is focused on future expansion and growth.
" It's an exciting time at Mennel as we are positioned to
grow and evolve as an organization, " he said. " Of course, we
will continue to help resolve service and processing issues if
they arise. However, we are placing greater focus on product development. "

ADM sees drop in net earnings
CHICAGO, ILLINOIS, US - Archer Daniels Midland Co.
(ADM) posted net earnings of $225 million for the third quarter ended Sept. 30, equal to 40¢ per share on the common
stock. This compared with earnings of $407 million, or 72¢
per share, in the same period a year ago.
Revenue for the quarter slipped to $15.12 billion compared
with $16.72 billion in the previous period.
" Our strategic initiatives have continued to enable our teams
around the world to demonstrate their expertise and skills, "
said Juan Luciano, chairman, president and chief executive
R൶FHURI$'0³$QG,¶PSURXGRIKRZRXUFROOHDJXHVDUH
supporting customers and driving strong results. The team
has done a great job handling the daily and sometimes hourly
challenges that have come our way in 2020. "
In an Oct. 30 call with analysts, Luciano said the ADM team
has done a good job advancing its growth and transformation
with optimization, drive and expansion.
" In our optimize pillar, our Ag Services and Oilseeds team
continued its work to enhance returns, delivering another
$100 million in invested capital reductions in the third quarter, " Luciano said.
" Since 2017, Ag Services and Oilseeds has improved its
capital position by exiting from no longer strategic assets,
including 71 grain origination locations, 6 oilseed facilities,
14 Golden Peanut and Tree Nuts locations and 7 ocean-going vessels. "
:LWKLQ LWV GULYH SLOODU$'0 LV ZRUNLQJ WR GULYH H൶FLHQcies such as with its Decatur corn complex demonstrating the
EHQH¿WVRIFHQWUDOL]HGRSHUDWLRQVRUJDQL]DWLRQ
" Our supply chain center of excellence is delivering as
well, " Luciano said. " Using our enhanced processes and tools

as well as integrated planning between commercial, supply
chain and operations, we've recently piloted changes at the
nutrition facility that are on track to unlock a 20-plus percent
increase in production capacity at that location and have already resulted in enhancements in customer service without
additional capital spending. We'll be rolling these kinds of
improvements out to other locations. "
Its Ag Services & Oilseeds business posted earnings of
$436 million, which compared with $417 million in the same
quarter a year ago.
" In Ag Services, we saw extremely good execution around
the globe, " said Ray Guy Young, executive vice president and
FKLHI¿QDQFLDOR൶FHURI$'0
" The North American team did well to capitalize on strong
industry export margins and volumes, and the global trade
team had another strong quarter as they continued their focus
on serving customers, " he said.
Ag Services and Crushing saw expanding margins during
the quarter, resulting in approximately $155 million in total
QHJDWLYHWLPLQJH൵HFWV
The Carbohydrate Solutions results were higher year-overyear with its subsegment, Starches and Sweeteners, buoyed
by strong risk management, improved net corn costs and balanced ethanol industry supply and demand, Young said.
The Carbohydrate Solutions segment, which includes grain
PLOOLQJVDZDVLJQL¿FDQW\HDURYHU\HDURSHUDWLQJSUR¿WLQcrease of $246 million in the third quarter of 2020 compared
to $182 million in the previous period.
³5HGXFHGIRRGVHUYLFHGHPDQGD൵HFWHGVZHHWHQHUDQGÀRXU
volumes but we're seeing good demand recovery for starches
in North America, " Young said.

16

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