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4-Traders Homepage  >  Equities  >  Nyse  >  Ingredion Inc    INGR

Delayed Quote. Delayed  - 08/24 10:02:01 pm
136.52 USD   -0.67%
08/17 INGREDION : To acquire rice starch & flour business in thailand
07/28 INGREDION : posts 2Q profit
07/28 INGREDION : Incorporated reports strong second quarter 2016 results
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INGREDION : TO ACQUIRE RICE STARCH & FLOUR BUSINESS IN THAILAND

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08/17/2016 | 03:37pm CEST


WESTCHESTER, Ill., Aug. 17, 2016 - Ingredion Incorporated (NYSE: INGR), a
leading global provider of ingredient solutions to diversified industries,
announced today that it has entered into a definitive agreement to acquire the
rice starch and rice flour business from Sun Flour Industry Co, Ltd. based in
Banglen, Thailand.

The acquisition supports Ingredion's global strategy to increase its higher-
value specialty ingredients business and has been approved by the Company's
board of directors. It is subject to approval by Thai government authorities as
well as to other customary closing conditions. Details of the transaction have
not been disclosed.

"Rice is an on-trend ingredient. It is non-GMO, hypoallergenic and gluten free.
Plus, its superior functionality makes it ideal for a variety of uses, including
baby foods, dairy products, snacks and gluten-free bakery," said Jorgen Kokke,
Ingredion senior vice president and president, Asia Pacific and EMEA. "This
acquisition enhances our global supply chain and leverages other capital
investments we've made in Thailand to grow our specialty ingredients and service
customers around the world," Kokke added.

Sutipong Sitapradit, founder and president of Sun Flour Industries, said, "Sun
Flour Industries has been an integral part of Thailand's agricultural history,
and is renowned for its quality. Ingredion's global presence is a growth
opportunity for the rice business. It provides career opportunities for the
employees and helps position Thailand as a production and export base for value-
added, rice-based food ingredients."

Once the acquisition is complete, Ingredion will have four manufacturing
facilities and 870 employees in Thailand, including the 120 employees joining
the Company from Sun Flour.


ABOUT INGREDION
Ingredion Incorporated (NYSE: INGR) is a leading global ingredient solutions
provider. We turn corn, tapioca, potatoes and other vegetables and fruits into
value-added ingredients and biomaterial solutions for the food, beverage, paper
and corrugating, brewing and other industries. Serving customers in over 100
countries, our ingredients make yogurts creamy, candy sweet, paper stronger and
face creams silky. Visit Ingredion.com to learn more.


CONTACT:

Investors:  Heather Kos, 708-551-2592

Media:  Claire Regan, 708-551-2602




This announcement is distributed by GlobeNewswire on behalf of 
GlobeNewswire clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
    
Source: Ingredion Incorporated via GlobeNewswire
[HUG#2035734]

 
  

© Thomson Reuters, source US Press Releases

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Financials ($)
Sales 2016 5 687 M
EBIT 2016 815 M
Net income 2016 491 M
Debt 2016 1 069 M
Yield 2016 1,36%
P/E ratio 2016 20,58
P/E ratio 2017 18,56
EV / Sales 2016 1,92x
EV / Sales 2017 1,83x
Capitalization 9 854 M
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Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 139 $
Spread / Average Target 1,9%
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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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