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4-Traders Homepage  >  Equities  >  Nyse  >  Corn Products International, Inc.    INGR

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CORN PRDTS USD0.01 : CORN PRODUCTS INTERNATIONAL TO DONATE GRAIN RESCUE TUBES

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09/09/2011 | 11:35pm CET

WESTCHESTER, Ill., September 9, 2011 - Corn Products International, Inc., a leading global provider of ingredient solutions to diversified industries, is donating grain rescue tubes to four fire departments in the U.S. and Canada to assist agriculture workers who may become trapped in grain elevators and silos.

"The rescue tube will not only benefit our department, but we will also notify other departments in our rural area that we have the tube and that they can request from us when needed," said Kevin Peterson, fire chief for the Maple Park and Countryside, Illinois, Fire Protection District, a rural community approximately 60 miles west of Chicago.

Grain entrapments, although uncommon, occur when workers become trapped in bins and silos used to store corn, grain or other material.  The intense pressure of large volumes of grain within the silo not only makes it difficult for the trapped worker to breathe, but also hampers rescue workers' ability to pull the victim to safety. 

Grain rescue tubes are used to assist people trapped in grain silos.  The tubes are pushed down into the grain and are designed to act as a containment barrier or temporary wall around people who are partially buried within the silos.  The tubes permit rescue workers to remove the grain immediately surrounding the victim. 

Along with Maple Park, Corn Products will donate rescue tubes to fire departments in Cardinal, London and Port Colborne, Ontario, all of which are home to Corn Products facilities.

The donation is part of Corn Products' ongoing commitment to safety; in addition, the Company has sent letters to its corn suppliers reminding them of the importance of safety and asking them to ensure that safe practices are implemented throughout the supply chain.

"Corn Products International is concerned about the safety of both our employees and the people who work with us," said Hugh Parker, director, commodity purchasing at Corn Products. "The farmers and grain elevator systems of North America do more than supply the raw materials we use to create our ingredients.  They are a vital part of our continent's economy, and we are happy to help in any way we can to make life a little safer for the people who help put food on our tables."

About the Company

Corn Products International, Inc., is a leading global ingredient provider to the food, beverage, brewing and pharmaceutical industries as well as numerous industrial sectors. The Company produces ingredients that provide valuable solutions to customers in approximately 50 countries.www.cornproducts.com.

CONTACT:   Investors:       Aaron Hoffman, (708) 551-2592

             Media:            Mark Lindley, (708) 551-2602

HUG#1545516

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Financials ($)
Sales 2016 5 718 M
EBIT 2016 834 M
Net income 2016 508 M
Debt 2016 1 189 M
Yield 2016 1,51%
P/E ratio 2016 18,34
P/E ratio 2017 16,76
EV / Sales 2016 1,80x
EV / Sales 2017 1,73x
Capitalization 9 111 M
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Consensus 
Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 136 $
Spread / Average Target 8,0%
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Managers
NameTitle
Ilene S. Gordon Chairman, President & Chief Executive Officer
Jack C. Fortnum Chief Financial Officer & Executive Vice President
Barbara A. Klein Independent Director
Gregory B. Kenny Independent Director
Luis Aranguren-Trellez Independent Director
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