Ingredion to invest $60m as it targets expansion in Asia

Ingredion will invest $60 million to upgrade several of its Asian production facilities as part of a new investment programme, which aims to grow the company’s speciality food ingredients business in the region.

The company operates four manufacturing facilities in Thailand and three manufacturing facilities in China, and this investment programme will aim to expand its modified and clean-label speciality starch capabilities through equipment upgrades and plant expansions.

The programme will aim to increase production of tapioca modified food starch in Thailand by 20%, and double the capacity of its speciality rice starch and rice flour business in the country.

Ingredion will also aim to increase the production of modified food starch from its Chinese facilities by 30%, while also further upgrading its corn wet milling capacity in China.

Additionally, the company will aim to upgrade its wastewater treatment facilities in Thailand as part of the investment.

Jim Zallie, Ingredion president and CEO said: “These strategic investments are designed to accelerate our growth and strengthen our manufacturing network in Asia to meet increased consumer demand.

“Growing our global specialities business to $2 billion in annual sales by 2022 is an integral part of our strategy to deliver long-term profitable growth and enhance shareholder value.

“The actions being taken in Asia are consistent with our global strategy to invest in our speciality starch franchise around the world and expand our capabilities to innovate and offer more customised solutions for our customers around the world.”

Valdirene Licht, Ingredion senior vice-president and president, Asia-Pacific added: “We see growing demand for both clean-label ingredients and speciality starch-based texturisers throughout the region.

“The investments will allow us to continue to evolve with our customers to provide innovative, on-trend solutions.

Our local team has extensive applications and formulating expertise combined with the broadest and deepest portfolio of waxy corn and tapioca based speciality starches and a successful track record of supporting customers in the region for more than three decades.

“We’re now excited to be building our on-trend rice ingredient business and we will continue to make further investments in Asia that benefit our customers globally.”