Archer Daniels Midland 2006 Annual Report Download - page 6

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sources—constrained oil supply, rising energy demand, geopolitical uncertainty and
environmental concern—is also creating enhanced opportunities for bio-based industrial
products. In partnership with Metabolix, we are building the first commercial plant to
produce PHA plastics. And we announced plans to build a propylene glycol facility to
create renewable alternatives to petroleum-based industrial chemicals.
We continue to align our assets to balance capacity with demand and rationalize our
portfolio. We completed the consolidation of our specialty fats business in the U.K. and
closed our citric acid facility in Ireland. In Brazil, we closed two of our oilseed processing
plants to adjust to changing market conditions.
As an energy producer, we take seriously our responsibility to be an energy conserver.
We are building coal-fired co-generation plants in Nebraska and Iowa to help our corn
milling operations become even more energy efficient.
Our planned capital spending program for fiscal years 2007-2008 is over $2.4 billion.
This substantially increased level of investment is well-supported by our financial
strength and aligned with a strong portfolio of growth projects matched to a remarkable
set of opportunities.
Accelerating Performance
Remarkable opportunities require remarkable people to bring them to fruition. At ADM,
we have such people. Their extraordinary range of talents and expertise is a fundamental
strength of our Company.
Our leadership team has
defined the key operational
priorities that will facilitate our
growth. Chief among them
is continuous learning, to
accelerate the already strong
performance of our people.
We also recognize the need
for our Company’s leadership
to provide the foundation for
The ADM Strategic Planning Committee (from left: Brian Peterson, William Camp, Steven
Mills, David Smith, Patricia Woertz, Douglas Schmalz and John Rice) discusses corporate
growth initiatives.
4