In a bid to reach customers more easily and meet their changing trends throughout Southeast Asia, Archer Daniels Midland Company ADM has opened a new innovation center at Biopolis Research Hub in Singapore. This 8,900 square feet facility is likely to provide cutting-edge flavor, and ingredient creation, application, development and customer innovation.
The innovation center will feature various capabilities like food and flavor analytic lab; a beverage and dairy applications lab and pilot plant; a bakery and confectionery lab; a meat and savory lab; a sweet and savory creation lab; sensory evaluation facilities; and a customer innovation center. The innovation center will house a team of food scientists, flavorists and applications experts, as well as sales, marketing and regulatory executives to carry out operations.
With the launch of this facility, Archer Daniels aims to become the most preferred ingredient and flavor expert for its customers. At the facility, it will work closely with customers to create the flavor and specialty ingredient, keeping consumers’ preferences for taste, nutrition, function and texture in mind.
Singapore has become the main hub of innovation and growth in the food and beverage industry. This makes it the obvious choice for Archer Daniel’s innovation center, where it expects to leverage technology, expertise and global scale to uplift the Southeast Asian food and beverage industry.
The launch of this new center is another major step in boosting Archer Daniels’ portfolio and capabilities worldwide. Apart from this, the company has been undertaking several strategic initiatives like cost-saving and investments in acquisitions, to expand its presence across the globe. Clearly, the company is leaving no stone unturned to match consumers’ changing preferences by making investments to become the go-to solution providers for clean labels, sustainable ingredients and great taste.
The news did not have a major impact on the company’s share price. However, this Zacks Rank #5 (Strong Sell) stock has gained 5.2% in the last six months.
Archer-Daniels-Midland Company Price and Consensus
Archer-Daniels-Midland Company Price and Consensus | Archer-Daniels-Midland Company Quote
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