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Ingredion investing $60m to expand Asia-Pacific presence

Zoom in font  Zoom out font Published: 2018-09-28  Views: 38
Core Tip: Ingredion is investing $60 million to grow its speciality food ingredients business in Asia-Pacific.
Ingredion is investing $60 million to grow its speciality food ingredients business in Asia-Pacific.
 
Earlier this year, the company began expanding its modified and clean-label speciality starch capabilities in tapioca, waxy corn and rice.
 
Now the company is investing in a 20% expansion of its tapioca food starch capacity in Thailand. This also includes state-of-the-art upgrades to its wastewater treatment facilities.
 
It will also double the capacity and increase the regulatory standards of its speciality rice starch and rice flour business in Thailand – which it acquired back in 2017.
 
Further, it will complete a 30% expansion of its modified food starch capacity and further improve its corn wet milling capacity in China.
 
“These strategic investments are designed to accelerate our growth and strengthen our manufacturing network in Asia to meet increased consumer demand,” said Jim Zallie, Ingredion President and CEO.
 
“Growing our global specialties business to $2 billion in annual sales by 2022 is an integral part of our strategy to deliver long-term profitable growth and enhance shareholder value.”
 
 
 
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