Ingredion Incorporated plans to invest approximately US$100 million to increase its manufacturing capacity for specialty ingredients, which is driven by the growing demand for the company’s 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 such as tapioca and rice can be better utilized.
“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,” said 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 more than US$1 billion since 2009.