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ADM Makes Technical Advancement with New I.T. Center

In a move to drive growth, Archer Daniels Midland CompanyADM announced the inauguration of its latest information technology (I.T.) and support center in Erlanger, KY.

The new center shares space with the company's WILD Flavors offices in the region. Consequently, this facility will offer easy access to local I.T. professionals operating in Northern Kentucky and the Greater Cincinnati region. Further, the center's location on the WILD Flavors campus enables the company to undertake cost-effective expansion.

Also, the new Kentucky facility will be supported by 1ADM, which is the development and execution of the company's business resource planning system.

The company also received backing from the Kentucky Economic Development Finance Authority ("KEDFA"), which granted tax incentives worth up to $5 million via the Kentucky Business Investment program and tax benefits of up to $200,000 through the Kentucky Enterprise Initiative Act, for this project.

However, Archer Daniels had to agree to undertake major recruitments in the Kentucky center in order to gain these tax incentives.

At present the center has around 70 employees and contractors, and aims to take this count to about 200, with most of these positions being new additions. These positions include business analysts, project managers and solution integrators. In fact, the company announced that it will hold an open house on Oct 22, for I.T. professionals and anyone interested in knowing more about Archer Daniels and its latest centers.

The creation of these jobs will also contribute significantly to the growth of the food and beverage industry in northern Kentucky which has invested $423 million, announced 46 new/expanding projects, and generated approximately 3,100 employment opportunities since Jan 2014.

As for Archer Daniels, the opening of the new facility is part of the company's strategy to expand its international I.T. capacities and infrastructure, commensurate with the pace of its business growth. The introduction of this facility is likely to draw talented I.T. personnel to Archer Daniels, helping it enhance its technical capabilities.

Apart from this facility, the company will continue to operate its I.T. center in Decatur, IL (which is its North American headquarters). Additionally, it will maintain its I.T. delivery services from various other centers across Europe, Asia and the Americas.

Zacks Rank

Archer Daniels currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the consumer staples sector include Cal-Maine Foods Inc. CALM , with a Zacks Rank #1 (Strong Buy), Dean Foods Company DF and Newell Rubbermaid Inc. NWL , each with a Zacks Rank #2 (Buy).

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NEWELL RUBBERMD (NWL): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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