Ingredion
 |
|
| Type | Public |
|---|---|
| Traded as | NYSE: INGR |
| Industry | food, beverage, pharmaceutical, animal feed, corrugating, paper, textile, Health & Wellness |
| Founded | 1906 |
| Headquarters | Westchester, Illinois, USA |
| Key people | Ilene S. Gordon, Chairman, President and CEO |
| Products | sweeteners, starches, syrups, glucose |
| Revenue | $6.5b (2012) |
| Employees | >10,000 |
| Website | www.ingredion.com |
Ingredion Incorporated (Formerly Corn Products International, Inc.) is a Westchester, IL based ingredient solutions provider. The company processes corn, tapioca, wheat, potatoes and other raw materials into ingredients for the food, beverage, brewing and pharmaceutical industries as well as numerous industrial sectors. With more than 10,000 employees around the world, Ingredion serves customers in more than 60 diverse markets in over 40 countries. In 2011, net sales reached $6.2 billion[1]
The company, once known as Corn Products Refining Co. and later on as CPC, supplied the raw materials for Argo cornstarch and Mazola corn oil.[2]
From 1919 till 1987 CPC International owned starch factories in Europe. The factories were sold to the French sugar manufacturer Béghin-Say and renamed Cerestar.[3] Cerestar was acquired in 2002 by Cargill.
In 1981 CPC formed a partnership with Texaco till 1995 to produce bioethanol at a plant in Pekin, Illinois. In 1995 the plant was sold to Williams Companies and in 2003 continued as Aventine Renewable Energy.
From 1958 to 1997, Bestfoods was part of the company, known for their brands Maizena, Knorr, Hellmann's and Bestfood mayonnaise, Skippy peanut butter.[4]
In 1997, the company was split in packaged-food company Bestfoods and starch company Corn Products International. Corn Products International (CPI) is a Fortune 1000 Company.
October 2010, the CPI acquired National Starch of Dutch paints firm AkzoNobel for $1.3 billion in cash.[5] It also took on pension and employee benefit liabilities.[6][7]
The combined company employs approximately 10,000 people in North America, South America, Europe, the Middle East, Africa and Asia-Pacific. It operates 37 manufacturing facilities in 15 countries; has sales offices in 29 countries, and has research and ingredient development centers in key global markets. In 2012 the company was renamed Ingredion.[8]
References
- ^ "Overview | About Us | Ingredion Incorporated". ingredion.com. Retrieved June 14, 2012.
- ^ "Corn Products boosts work force — Peoria, IL — pjstar.com". Peoria Journal Star. Retrieved 2009-05-11.
- ^ http://www.fundinguniverse.com/company-histories/Eridania-Beacute;ghinSay-SA-Company-History.html Eridania Béghin-Say company history
- ^ http://www.fundinguniverse.com/company-histories/Bestfoods-Company-History.html Bestfood - CPI company history
- ^ "Corn Products International Acquisition of National Starch". Marketwatch.
- ^ "Corn Products International Acquisition of National Starch". PreparedFoods.
- ^ "National Starch merges with Corn Products International". PreparedFoods. 2012-03-01.
- ^ "Corn Products International and National Starch are now Ingredion". FoodInnovation.
