U.S. agricultural trader Archer Daniels Midland Co on Monday denied a report that it was bidding on Unilever Plc’s spreads business, which includes Flora and Stork margarines.
British newspaper the Times had reported that ADM was planning to make a move for part of the Unilever unit. ADM said in a statement that it was not submitting a bid.
ADM and its rivals have been investing in higher-margin businesses such as food ingredients and natural flavorings to prop up slumping results from core grain trading and processing operations. Strong margins in sweeteners and starches helped prop up ADM’s second-quarter earnings.
Shares of ADM were up 0.4 percent at $42.67 in midday trading.
By Mark Weinraub
The signatories delivered a joint letter yesterday evening to the EC advising it to establish a “transparent, ambitious, and circular ‘chain of custody’” method instead.
Funded with US$15 million, the competition took off last July, prompting “suppliers, designers and problem-solvers” to submit environmentally sustainable design solutions and standard plastic bag alternatives.
Carlsberg Marston’s Brewing Company has partnered with Encirc to trial a glass beer bottle that has the potential to cut the carbon impact of its bottles by up to 90%.