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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 Receives $58.4 Million Related to NAFTA Tribunal Judgment

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01/26/2011 | 03:15pm CEST

Corn Products International, Inc. (NYSE: CPO), a leading global provider of ingredient solutions to diversified industries, received payments totaling US$58.4 million on January 25, 2011, from the Government of the United Mexican States pursuant to an award rendered in its favor by a North American Free Trade Agreement (NAFTA) Chapter 11 Tribunal in 2009.

The award was the result of a claim Corn Products submitted to arbitration in 2003 under the investment protection provisions of NAFTA arising out of a tax Mexico had imposed on beverages sweetened with high fructose corn syrup. In 2008 the NAFTA Tribunal found that the tax violated NAFTA's national treatment provisions by discriminating in favor of domestic producers of cane sugar.

Mexico made this payment pursuant to an agreement with Corn Products International that provides for terminating pending post-award litigation and waiving post-award interest.

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. For more information, visit www.cornproducts.com.

Corn Products International, Inc.
Investors: Aaron Hoffman, (708) 551-2592
Media: Mark Lindley, (708) 551-2602


© Business Wire 2011
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Financials ($)
Sales 2016 5 644 M
EBIT 2016 794 M
Net income 2016 489 M
Debt 2016 1 132 M
Yield 2016 1,41%
P/E ratio 2016 19,92
P/E ratio 2017 18,46
EV / Sales 2016 1,89x
EV / Sales 2017 1,82x
Capitalization 9 562 M
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Consensus 
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 125 $
Spread / Average Target -5,6%
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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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