ADM considering locations for new global headquarters
CHICAGO (Reuters) - Archer Daniels Midland Co (ADM.N) said on Monday that it is considering locations for a new global headquarters.
ADM, which has been based in Decatur, Ill., for 44 years, needs a new "location that allows us to travel and work efficiently with customers and employees throughout the world," Chief Executive Officer Patricia Woertz said in a statement.
The current headquarters, about three hours south of Chicago in central Illinois, will become ADM's North American headquarters, according to the company.
It said no layoffs are planned in connection with the move to a new global center.
ADM said it is considering locations and having discussions with public officials and advisers. It said it does not expect to discuss the details publicly.
ADM is among the four large players known as the "ABCD" companies that dominate the flow of agricultural goods around the world. The others are Bunge Ltd (BG.N), Cargill Inc CARG.UL and Louis Dreyfus Corp LOUDR.UL.
ADM is expanding its reach with a deal to buy Australia's GrainCorp Ltd (GNC.AX) for nearly A$3.0 billion ($3.1 billion). The acquisition was announced in April and is expected to close by the end of the year.
(Reporting by Tom Polansek; Editing by Carol Bishopric)