Miller Magazine Issue: 120 December 2019

36 NEWS MILLER / DECEMBER 2019 ADM to focus on organic growth after acquisitions Grain trader Archer Daniels Midland Co (ADM) does not expect to continue its aggressive strategy of acquisitions in the next few years and will instead focus on organic growth, a senior official said. “With this level of acquisi- tions we have had, I don’t think you will see ADM being a very aggressive M&A investor over the next few years,” Ismael Roig, Europe, Middle East and Africa President Ar- cher Daniels Midland Co told the Global Grain conference in Geneva. He said the company would instead focus on optimizing its business and driving efficiency, and look for opportunities in value-added sectors including nutrition. The firm has made $7 billion acquisitions globally in recent years, including $5 billion in EMEA, Roig said. ADM purchased natural food ingredients company Wild Flavors for $3 billion in 2014 and earlier this year it took over animal nutrition business Neovia for $1.7 bln as part of the U.S. farm giant’s strategy to expand in the fast-growing animal nutrition sector. “There’s a significant amount of opportunity across all of the commodity streams at low level sophistications or high level sophistications to add a significant amount of margin and that’s how we are thinking about the strategy going forward,” he said. Sukup announces leadership succession Charles E. Sukup, President of Su- kup Manufacturing Co., announced that on February 1, 2020, and after 25 years, he will transition from Cha- ir, President and CEO to Chairman of the Board. His brother, Steve Sukup, who has been CFO and Vice Presi- dent will become President and CEO. Although Charles, will no longer be involved in day-to-day operations, he looks forward to being an ambas- sador for Sukup Manufacturing Co. and supporting its growth and suc- cess in sales and product innovation. Charles reflected, “While growing up, I always knew that I would work in the family business and was proud to be the first degreed engineer for the company. Evidently Dad thought it would be cheaper to raise an engineer rather than hire one! I was one of the few students at Iowa State that knew exactly what I would be doing after graduation.” Charles is now 65 years old, the same age as when his father transitioned from being presi- dent in 1995. Charles Sukup has a bachelors and master’s degree in Agricultural Engineering from Iowa State University. He ser- ved as Chair of the Iowa Association of Business & Industry and President of the American Society of Agricultural and Biological Engineers. He is a registered Profes- sional Engineer, a professor at Iowa State University, and a member of the National Academy of Engineering. He also is a board member of the Natio- nal Association of Manufacturers and Chair of America’s Cultivation Corri- dor. Commenting on growing up in the 56 year old business, Charles said, “Being a part of the growth and ex- pansion of Sukup Manufacturing Co. has been a dream come true for me. It was humbling to come back as our first degreed engineer and be surrounded by so many talented and creative people. While many did not have formal degrees, their innovative ideas were key to our early success that we now take for granted.” Sukup Manufacturing Co. has grown to be the largest family owned and operated grain storage, drying and handling manufacturer in the world. In fulfillment of the aspiration to be family owned and opera- ted, yet committed to the best professional management, the fa- mily shareholders of Sukup Manufacturing Co. recently elected John Lisle of Lisle Corporation, Clarinda, Iowa; Drew Vogel of Diamond Vogel, Orange City, Iowa; and Eric Lohmeier of NCP, Inc. of Des Moines, Iowa to its Board of Directors. Charles E. Sukup Steve Sukup