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CORN PRDTS USD0.01 : Corn Products International Receives $58.4 Million Related to NAFTA Tribunal Judgment

01/26/2011 | 10:15am US/Eastern

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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