(WAND) - ADM and Mitsubishi Corporation have signed a non-binding memorandum of understanding to form a strategic alliance.
In a release, ADM said, "In recent years, the importance of secure and resilient food and agriculture supply chains has come into sharper focus, driven both by short-term dislocations as well as structural demand shifts powered by global population growth, economic development, and increasing consumer preference for sustainably sourced products. It has thus become essential to adopt a comprehensive and cross-industrial approach, connecting multiple businesses in different segments to address these challenges."
ADM said they and Mitsubishi Corporation now will look for ways to handle those challenges together.
ADM is one of the world's largest food and agriculture companies. MC's business platform spans multiple industries including food and energy.
The companies said they hope this partnership helps them identify new opportunities to meet global needs ranging from a "robust biofuel supply chain to a stronger, more resilient global food system."
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