INGREDION COMPLETES ACQUISITION OF SHANDONG HUANONG SPECIALTY CORN DEVELOPMENT CO., LTD. IN CHINA
(Thomson Reuters ONE) -
WESTCHESTER, Ill., Nov. 29, 2016 - Ingredion Incorporated (NYSE: INGR), a
leading global provider of ingredient solutions to diversified industries,
announced today that it has successfully completed the acquisition of Shandong
Huanong Specialty Corn Development Co., Ltd. in China.
"This acquisition will vertically integrate our manufacturing base for
specialty ingredients. In addition to reducing costs, it gives us more control
of the supply chain, with added food safety and sustainability benefits. The
facility is strategically located in an ideal growing area for the specialty
grains used to make our ingredients. And, it provides a base for expansion to
accommodate future growth," explained Jorgen Kokke, Ingredion President of Asia
Pacific and EMEA.
The acquisition of Shandong Huanong, located in Shandong Province, adds a second
manufacturing facility to Ingredion's operations in China. It will produce
starch raw material for the Company's plant in Shanghai, which makes value-added
ingredients for the food industry.
Ingredion acquired Shandong Huanong from Pingyuan County Juyuan State-Owned
Asset Management Co., Ltd. The terms of the agreement will not be disclosed.
ABOUT INGREDION
Ingredion Incorporated (NYSE:INGR) is a leading global ingredients solutions
provider specializing in nature-based sweeteners, starches and nutrition
ingredients. 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 Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ingredion Incorporated via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 30.11.2016 - 04:00 Uhr
Sprache: Deutsch
News-ID 509873
Anzahl Zeichen: 2368
contact information:
Town:
Westchester, Illinois
Kategorie:
Business News
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