Specialty ingredients investment
Ingredion Incorporated, a global provider of ingredient solutions to diversified industries, has announced that it plans to invest about $100m to increase its manufacturing capacity for specialty ingredients. The planned expansion is driven by the growing demand for the company’s higher-valued ingredients.
The capital investments are expected to be made over the next several years in manufacturing facilities located primarily in North America and Asia Pacific, where local crops like tapioca and rice can be better utilised.
“There are growing trends toward wholesome products made with authentic ingredients and products designed for convenience. Expanding our capacity will help customers deliver against these trends,” says Ilene Gordon, chairman, president and CEO.
The investments will further optimize Ingredion’s global manufacturing network, improve customer service and streamline inventories. These add to the on-going capital expenditures of over $1bn since 2009.