INGREDION TO ACQUIRE SHANDONG HUANONG SPECIALTY CORN DEVELOPMENT CO., LTD. IN CHINA
(Thomson Reuters ONE) -
WESTCHESTER, Ill., February 4, 2016 - Ingredion Incorporated (NYSE: INGR), a
leading global provider of ingredient solutions to diversified industries,
announced today that it has entered into a definitive agreement with Pingyuan
County Juyuan State-Owned Asset Management Co., Ltd. to acquire the state-owned
Shandong Huanong Specialty Corn Development Co., Ltd. in Pingyuan County,
Shandong Province, China.
The acquisition supports Ingredion's specialty ingredients business in China and
has been approved by the Company's board of directors. It is subject to approval
by Chinese government authorities as well as to other customary closing
conditions. Details of the transaction have not been disclosed.
"This acquisition is another step in executing our strategic blueprint for
growth. It enhances our capacity in the Asia-Pacific region with a vertically
integrated manufacturing base for specialty ingredients," said Jorgen Kokke,
Ingredion senior vice president and president, Asia Pacific and EMEA. "China is
a growing market for our specialty starches, and this acquisition provides a
base for further expansion to accommodate future market growth in China and
across Asia Pacific."
Madame Wang Hong Xia, Pingyuan County Head, said, "We welcome Ingredion as an
investor in Pingyuan County. Their investment provides excellent growth and
development opportunities for the work force and local economy."
Shandong Huanong Specialty Corn Development Co., Ltd. has 146 employees.
ABOUT INGREDION
Ingredion Incorporated (NYSE: INGR) is a leading global ingredient solutions
provider. We turn corn, tapioca, potatoes and other vegetables and fruits into
value-added ingredients and biomaterial solutions for the food, beverage, paper
and corrugating, brewing and other industries. Serving customers in over 100
countries, our ingredients make yogurts creamy, candy sweet, paper stronger and
face creams silky. Visit Ingredion.com to learn more.
###
CONTACT:
Investors: Heather Kos, 708-551-2592
Media: Claire Regan, 708-551-2602
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ingredion Incorporated via GlobeNewswire
[HUG#1983871]
Unternehmensinformation / Kurzprofil:
Datum: 04.02.2016 - 16:34 Uhr
Sprache: Deutsch
News-ID 448803
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contact information:
Town:
Westchester, Illinois
Kategorie:
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