Published September 23, 2013
CHICAGO – Agribusiness Archer Daniels Midland Co said on Monday that it is considering locations for new corporate headquarters because the company is becoming more global.
The company's headquarters have been located in Decatur, Illinois, about three hours south of Chicago, for the past 44 years.
"To continue to succeed, we need a global center in a 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.
A company spokesman could not immediately be reached for further comment.
ADM is one of four large players known as the "ABCD" companies that dominate the flow of agricultural goods around the world. The others are Bunge Ltd , Cargill Inc and Louis Dreyfus Corp .
ADM said it plans to relocate about 100 existing jobs to its new headquarters and create a technology center at the location that will add about 100 new jobs over several years. About 4,400 employees will continue to work in Decatur, which will become ADM's North American headquarters.
No layoffs are planned in connection with the move, ADM said.
The company said it is considering locations for the new office and having discussions with public officials and advisors.
Chicago has talked with ADM about bringing the new headquarters to the city, Tom Alexander, spokesman for Chicago Mayor Rahm Emanuel, said in a telephone call with Reuters.
"We will work to ensure that this corporate headquarters stays in Illinois," the mayor said in a statement.
ADM is expanding its reach in the agricultural industry with a deal to buy Australian grain handler GrainCorp Ltd 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.
ADM maintains regional headquarters in Rolle, Switzerland; Sao Paulo, Brazil; and Shanghai, China.
Shares of the company fell 1.6 percent to $36.63, on Monday.
(Reporting by Tom Polansek; Editing by Carol Bishopric)