Corn Products broadening presence in Brazil
December 7, 2010
by Jeff Gelski
WESTCHESTER, ILL. — Corn Products International over the next several years plans to invest $75 million to $100 million to expand capacity and develop new ingredient solutions in Brazil, particularly to support the growth of the food, beverage and industrial sectors.
“Brazil has been an outstanding market for Corn Products historically, and we believe that it will continue to provide superior growth and returns in the future,” said Ilene Gordon, chairman, president and chief executive officer of Westchester-based Corn Products International.
For the nine months ended Sept. 30, $874 million, or 29.5% of Corn Products’ sales, were generated in South America, where Brazil is the largest contributor. Corn Products International operates six manufacturing facilities and two ingredient development centers in Brazil.