(MENAFN – GlobeNewsWire – Nasdaq)
WESTCHESTER, Ill. , Nov. 7, 2022 (GLOBE NEWSWIRE) — (NYSE: INGR), a leading global provider of item responses to the food and beverage production industry, today announced that it has completed one-third of its $160 million capital investment to particularly develop the capability of a variety of proprietary and modified specialty starches throughout its global supply chain. Within the company, its control team announced capital investments of $160 million through 2024 to selectively expand and increasingly localize its production capacity for visitor demands for specialty starches that offer flavor texture as well as formulas and labeling features for food and beverages. In September, the company also announced that it had opened a production plant in Shandong, China, which has doubled its starch production capacity and functions in the country.
“For more than a year and a half, we have noticed a strong recovery in visitor demand for our starch responses in food service programs as well as classic packaged foods and beverages. In addition, the conflict in Ukraine has affected markets for corn and other grains. , which led to a build-up in the load of many food ingredients. Meanwhile, as consumers faced the demanding situations of emerging formula loads, they turned to specialty starches because of their versatility and affordability over other ingredients,” said the Senior Vice President of Corporate Strategy. , Specialties and President, Europe, Middle East and Africa (EMEA).
“In addition to freeing up capacity through ongoing initiatives, the investments we have announced will enable us to more sustainably meet our customers’ increased demand through increased local sourcing in the U. S. “These investments flexibility our global supply chain of specialty starches made from corn, waxy corn, tapioca, potato and rice. The moves we take, combined with our deep market experience, technical wisdom, and decades of delight in innovation with special starch responses will continue to make us a trusted spouse to our customers,” concluded Perez and Landazuri.
In addition to offering capacity expansion for long-term growth, steps are being taken to handle long-term delivery taking into account the environmental footprint of products sold to consumers. The company recently announced that it is the first company dedicated to primary food ingredients. interact with Array, the world’s largest product sustainability database for the food and beverage industry. This dating will provide greater transparency for the company’s ingredients and allow its consumers to innovate to meet the growing demand for more sustainable products.
About Ingredion Incorporated (NYSE: INGR), headquartered in suburban Chicago, is a leading global provider of item responses serving consumers in more than 120 countries. With annual net sales of nearly $7 billion in 2021, the company transforms grains, fruits and vegetables and other plant tissues into value-added responses for the food, beverage, animal nutrition, brewery and commercial markets. Purpose of bringing in combination the perspective of people, nature and generation to lives. Visit for more data and the latest corporate news.
FORWARD-LOOKING STATEMENTS This press release comprises or would possibly imply forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends that such forward-looking statements will be covered by the port’s provisions for such statements.
Forward-looking statements include, but are not limited to, any statements relating to the Company’s long-term ability to make capital investments and make them operational, long-term source and demand for its products, and any other statements relating to the Company’s clients and long-term operations, monetary condition, earnings, net sales, volumes, business costs, tax rates, capital expenditures, cash flows, expenses or other monetary items, adding management’s plans or methods and objectives for any of the above, and any assumptions, expectations or ideals underlying any of the foregoing.
These statements may be made known by the use of forward-looking words such as “may,” “will,” “should,” “anticipate,” “assume,” “believe,” “plan,” “project,” “estimate,” “expect,” “intend,” “continue,” “pro forma,” “forecast,” “outlook,” “propels,” “opportunities,” “potential,” “provisional” or other similar expressions or the negative thereof. All statements other than statements of old facts in this press release are “forward-looking statements. “
These statements are based on existing cases or expectations, but are subject to certain inherent dangers and uncertainties, many of which are difficult to expect and beyond our control. Although we know that our expectations expressed or implied by such forward-looking statements are based on moderate assumptions, investors are cautioned that there can be no assurance that our expectations will prove to be correct.
Actual effects and expansions may differ materially from expectations expressed or implied by those statements, depending on various risks and uncertainties, including the influence of COVID-19 on demand for our products and our currency effects; replace customers’ personal tastes associated with high fructose corn syrup and other products we make; the effects of global economic situations and general political, economic, business and market situations that customers and customers in the various geographic regions and countries in which we source our greige fabrics or manufacture or sell our products, in addition, to through particular economic, currency and political situations in South America and economic and political situations in Europe, and the effect these issues could have on our sales volumes, product prices and ability to recover our accounts receivable from customers ; long-term purchases of our products through the primary industries we serve and from which we derive a significant portion of our sales, including but not limited to food, beverage, animal nutrition and brewing; the uncertainty of acceptance of products evolved through genetic amendments and biogeneration; our ability to expand or obtain new products and facilities at prices or qualities sufficient to achieve market acceptance; increased competitive and/or visitor stress in the corn refining and similar industries, aggregating with respect to market locations and rates for our number one products and co-products, corn with coconut oil; the availability of greige fabrics, adding potato starch, tapioca, gum arabic and the express types of corn on which some of our products are based, and our ability to pass on potential increases in the price of corn or other greige fabrics to the customers; power tariffs and availability, adding power problems in Pakistan; our ability to engage fees, stay within budget and achieve expected synergies, adding our ability to deliver all planned maintenance and capital projects on time and within budget; regarding transportation and shipping fees; the effects of climate substitution and the legal, regulatory and market measures to deal with climate substitution; our ability to effectively identify and participate in acquisitions or strategic alliances on favorable terms, as well as our ability to effectively integrate business wins or initiate and maintain strategic alliances and realize expected synergies with respect to all of the foregoing; difficulties in the operation of our production facilities; the habit of the money and capital markets, adding with respect to foreign currency fluctuations, fluctuations in interest and exchange rates and market volatility and the relevant risks of hedging against such fluctuations; the effects of the clash between Russia and Ukraine, in addition to having an effect on the availability and prices of raw fabrics and energy materials and the volatility in exchange rates and interest rates; our ability to attract, expand, motivate and maintain intelligent relationships with our people; will have an effect on our business from herbal disasters, wars, threats or acts of terrorism, the outbreak or continuation of pandemics such as COVID-19, or the occurrence of other significant events beyond our control; have an effect on the fees for impairment of our smart will or long-lived assets; adjustments in government policies, laws or regulations and legal compliance fees, adding compliance with environmental regulations; adjustments to our tax rates or exposure to other tax liabilities; increases in our loan rates that could possibly result from emerging interest rates; our ability to increase the budget at moderate rates and other points; our access to sufficient budget for long-term expansion and expansion; security breaches in data generation systems, processes and sites; inventory market place place place place volatility and other factors that may also adversely affect our inventory price; the dangers of applying our dividend policy; and our ability to maintain effective internal control over monetary reporting.
Our forward-looking emails refer only to the date they were made, and we assume no legal responsibility to update prospective emails to reflect post-date events or instances as a result of new data or long-term events or developments. . If we update or correct one or more of those s, investors and others deserve not to conclude that we will make further updates or corrections. For a more detailed description of those and other risks, see “Risk Factors” and Other Information included in our Annual Report on Form 10-K for the year ended December 31, 2021, our Quarterly Report on Form 10-Q for the Quarterly Era Ended March 31, 2022, and our upcoming reports on Form 10-Q and Form 8-K filed with the Securities and Exchange Commission.
CONTACT: Investors: Noah Weiss, 708-551-2788 Media: Becca Hary, 708-551-2602
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