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Asia Pacific: Ingredion to buy Chinese company

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Ingredion has entered into a definitive agreement with Pingyuan County Juyuan State-Owned Asset Management Co., Ltd. to acquire the state-owned Shandong Huanong Specialty Corn Development Co., Ltd. in Pingyuan County, Shandong Province, China.

“This acquisition is another step in executing our strategic blueprint for growth,” said Jorgen Kokke, Ingredion senior VP and president, Asia Pacific and EMEA.

“It enhances our capacity in the Asia-Pacific region with a vertically integrated manufacturing base for specialty ingredients.”

Shandong Huanong Specialty Corn Development has 146 employees.