ADM considers ethanol spinoff as first-quarter profit falls on severe weather
Reuters: Archer Daniels Midland Co. today said it was considering spinning off its ethanol business after slim biofuel margins and Midwestern floods slammed the grain merchant’s profit, which tumbled 41% in the first quarter. ADM said it was creating an ethanol subsidiary, which will include dry mills in Cedar Rapids, Columbus, Neb., and Peoria, Ill.
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