Shares of Archer Daniels Midland Company (NYSE:ADM) ended Thursday session in red amid volatile trading. The shares closed down -0.32 points or -0.76% at $41.53 with 2.15 million shares getting traded. Post opening the session at $41.81, the shares hit an intraday low of $41.38 and an intraday high of $42.16 and the price vacillated in this range throughout the day. The company has a market cap of $24.14 billion and the numbers of outstanding shares have been calculated to be 581.76 million shares.
On Sept. 23, 2016 Ginkgo Bioworks announced that it has signed an agreement with Archer Daniels Midland Company (ADM), one of the world’s largest agricultural processors and food ingredient providers, to develop custom strains of microorganisms that will be used to produce a key cultured ingredient.
“ADM’s expertise in ingredients and customization is unparalleled,” said Jason Kelly, co-founder and CEO of Ginkgo Bioworks. “With our bioengineering resources, we are excited to offer them a more affordable and sustainable way to produce these ingredients and continue to educate the market about what is possible.”
Ginkgo Bioworks is rapidly expanding to deliver designer organisms to customers across a range of industries, including cosmetics, nutrition, flavors, fragrances, insect control, AgBio, sweeteners and others. They recently closed a $100 Million C round of financing, which is enabling growth of their organism engineering foundries, where new strains are prototyped for customers. These strains produce cultured ingredients in a process similar to a microbrewery.
“As our customers work to develop new, unique products to meet consumer demand, they rely on ADM to provide innovative ingredient and formulation solutions throughout the process,” said Todd Werpy, Senior Vice President and Chief Technology Officer of ADM. “Partnerships with companies like Ginkgo Bioworks elevate our ability to be an ideal problem-solving partner for our customers, and we are excited about the possibilities this new agreement will create.”
Shares of BorgWarner Inc. (NYSE:BWA) ended Thursday session in red amid volatile trading. The shares closed down -0.49 points or -1.41% at $34.30 with 1.46 million shares getting traded. Post opening the session at $34.69, the shares hit an intraday low of $34.25 and an intraday high of $35.03 and the price vacillated in this range throughout the day. The company has a market cap of $7.41 billion and the numbers of outstanding shares have been calculated to be 214.27 million shares.
On Sept. 29, 2016 BorgWarner supplies its advanced diesel cold-start system with ceramic glow plugs (CGPs) and glow plug control module for SsangYong’s new 1.6-liter and 2.2-liter DTX engines. Featuring BorgWarner’s fast-heating diesel cold-start technology, the glow plugs help optimize combustion for several vehicles from leading South Korean automaker SsangYong, including the all-new compact Tivoli SUV as well as the Korando and Korando Sport. Equipped with a stop/start function, all models are planned for release in Europe and North America.
“BorgWarner’s state-of-the-art diesel cold-start technologies optimize combustion processes to achieve improved fuel economy and reduced emissions,” said Brady Ericson, President and General Manager, BorgWarner Emissions Systems. “Designed to help meet current emissions standards, BorgWarner’s CGP and glow plug control module heat up faster and last longer than competitive models, delivering reliable engine starts and lower emissions. We are pleased to provide these advanced technologies to SsangYong.”