INGREDION TO CONSOLIDATE MANUFACTURING FACILITIES IN BRAZIL
(Thomson Reuters ONE) -
NETWORK OPTIMIZATION TO REDUCE COSTS AND ENHANCE PRODUCTIVITY
WESTCHESTER, Ill., September 8, 2015 - Ingredion Incorporated (NYSE: INGR), a
leading global provider of ingredient solutions to diversified industries,
announced today that it plans to consolidate its manufacturing network in
Brazil. Plants in Trombudo Central and Conchal will be closed and production
will be moved to plants in Balsa Nova and Mogi Guaçu, respectively.
The consolidation will begin early in 2016 and should be complete by the end of
the year. It is expected to result in annual cost savings of $6 - 8 million USD
beginning in 2017. Total pre-tax restructuring-related charges of $13 - 16
million USD are anticipated in the third quarter of 2015.
"We continuously evaluate our manufacturing network for improvement
opportunities. Consolidating production into Balsa Nova and Mogi Guaçu is part
of our overall restructuring program in our Brazilian operations to reduce costs
in our network," said Ricardo Souza, president, Ingredion South America.
Ingredion CFO, Jack Fortnum noted, "The slowing economy recently has impacted
volumes in Brazil. However, our continuous improvement programs continue to
drive good operational efficiencies. We will remain vigilant in our efforts to
maximize productivity and enhance shareholder value."
In addition to Balsa Nova and Mogi Guaçu, Ingredion will continue to operate
facilities in Cabo de Santo Agostinho and São Gonçalo, Brazil.
ABOUT INGREDION
Ingredion Incorporated (NYSE:INGR) is a leading global ingredients solutions
provider specializing in nature-based sweeteners, starches and nutrition
ingredients and biomaterial solutions. With customers in more than 100
countries, Ingredion serves approximately 60 diverse sectors in food, beverage,
brewing, pharmaceuticals and other industries. For more information,
visit ingredion.com.
###
CONTACT
Investors: Heather Kos, 708-551-2592
Media: Claire Regan, 708-551-2602
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ingredion Incorporated via GlobeNewswire
[HUG#1949406]
Unternehmensinformation / Kurzprofil:
Datum: 08.09.2015 - 14:05 Uhr
Sprache: Deutsch
News-ID 418529
Anzahl Zeichen: 2791
contact information:
Town:
Westchester, Illinois
Kategorie:
Business News
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