Ingredion

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Ingredion Incorporated
Formerly called
Corn Products International (1906-2012)
Public
Traded as NYSEINGR
S&P 400 Component
Industry Food
Beverage
Pharmaceutical
Animal Feed
Corrugating
Paper
Textile
Health & Wellness
Founded 1906; 112 years ago (1906)
Headquarters Westchester, Illinois, United States
Key people
Ilene S. Gordon
(Chairman, President, & CEO)
Jack C. Fortnum
(CFO)
Products Sweeteners
Starches
Corn Syrups
Glucose
Oil
Revenue Increase US$ 6.02 billion (2016)
Increase US$ 808 million (2016)
Increase US$ 496 million (2016)
Total assets Increase US$ 5.78 billion (2016)
Total equity Increase US$ 2.60 billion (2016)
Number of employees
~11,000 (2016)
Website www.ingredion.com
Footnotes / references
[1]

Ingredion Incorporated (formerly Corn Products International, Inc) is an ingredient solutions provider based in Westchester, Illinois. The company turns corn, tapioca, potatoes, and other vegetables and fruits into ingredients for the food, beverage, brewing, and pharmaceutical industries and numerous industrial sectors.[2] It has more than 11,000 employees around the world, and customers in more than 60 markets in over 40 countries. In 2015, net sales were $5.6 billion.[2]

History[edit]

The company, which began as Corn Products Refining Co. and later as "CPC," was founded by the merger of leading US corn refiners in 1906.[3] It supplied the raw materials for Argo cornstarch and Mazola corn oil.[4]

CPC acquired starch factories in Europe from 1919 until 1987 when they were sold to the French sugar manufacture Béghin-Say and renamed Cerestar.[3][5]

In 1981, CPC formed a partnership with Texaco to produce bioethanol at a plant in Pekin, Illinois.[6] In 1995, the plant was sold to Williams Companies and, in 2003, continued as Aventine Renewable Energy.[7] The company has a facility in nearby Mapleton, Illinois, along U.S. Route 24, which is part of an industrial area, a major area employer.[8]

The Bestfoods division of the company known for brands Maizena, Knorr, Hellmann's / Best Foods mayonnaise, and Skippy Peanut Butter existed from 1958 until 1997 when the company split into Bestfoods, a packaged-foods company, and Corn Products International, a starch and sweeteners company.[9] Ingredion is a Fortune 1000 Company.[10]

In October 2010, CPI acquired National Starch of Dutch paints firm AkzoNobel for $1.3 billion in cash.[11] It also took on pension and employee benefit liabilities.[12][13]

The combined company employs approximately 11,000 people in North America, South America, Europe, the Middle East, Africa, and Asia-Pacific.[14] It operates 37 manufacturing facilities in 15 countries and sales offices in 29 countries. Ingredion Idea Labs Research and ingredient development centers are located in key global markets. In 2012, the company was renamed Ingredion.[15]

References[edit]