News
Ingredion invests in China
5 Feb 2016Ingredion is to acquire Shandong Huanong Specialty Corn Development in Pingyuan County, Shandong Province, China. The company says that the acquisition is designed to support its specialty ingredients business in the country.
Ingredion is to acquire Shandong Huanong Specialty Corn Development in Pingyuan County, Shandong Province, China.
The acquisition is said to support Ingredion’s specialty ingredients business in China and has been approved by the company’s board of directors. It is subject to approval by Chinese government authorities as well as to other customary closing conditions. Details of the transaction have not been disclosed.“This acquisition is another step in executing our strategic blueprint for growth. It enhances our capacity in the Asia-Pacific region with a vertically integrated manufacturing base for specialty ingredients,” said Jorgen Kokke, Ingredion senior vice president and president, Asia Pacific and EMEA. “China is a growing market for our specialty starches, and this acquisition provides a base for further expansion to accommodate future market growth in China and across Asia Pacific.”Shandong Huanong Specialty Corn Development has 146 employees.