Ingredion Invests $50 Million in Cedar Rapids, Iowa Facility to Expand Specialty Industrial Starch Capacity for Packaging and Papermaking Industries
Ingredion (NYSE: INGR) has announced a $50 million investment to modernize and expand its Cedar Rapids, Iowa facility's production capacity for industrial starches serving the packaging and papermaking industries.
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Rhea-AI Summary
Ingredion (NYSE: INGR) has announced a $50 million investment to modernize and expand its Cedar Rapids, Iowa facility's production capacity for industrial starches serving the packaging and papermaking industries. The investment aims to meet growing demand for functional solutions that deliver enhanced strength, biodegradability, and recyclability in containerboard and papermaking applications.
The expansion will enable Ingredion to better support industries adapting to changing consumer and environmental requirements, particularly in stronger natural polymer-based food packaging. The company reported 2024 annual net sales of $7.4 billion and operates globally with more than 11,000 employees, serving customers across 120+ countries through its Ingredion Idea Labs® innovation centers.
Positive
- $50M strategic investment in facility modernization
- Expansion into growing specialty industrial starch market
- Strong 2024 revenue of $7.4B
- Enhanced production capacity and efficiency
Negative
- None.
Details
News Market Reaction – INGR
The recorded move for INGR in the trading session of this news was +0.30%.
Data tracked by StockTitan Argus. Session date unavailable.
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WESTCHESTER, Ill., Feb. 27, 2025 (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions for food, beverage and industrial applications, announced today a
“Demand is growing for functional solutions that deliver against more stringent requirements for strength, biodegradability and recyclability across both containerboard and papermaking,” said Rob Ritchie, senior vice president, food and industrial ingredients, LATAM and US/Canada. “Ingredion is committed to supporting these industries as they adapt and innovate to meet a variety of changing consumer and environmental requirements, such as the need for stronger natural polymer-based food packaging. With increased capacity and more efficient production at the Cedar Rapids facility, Ingredion will be well-positioned to deliver differentiated value to this growing market.”
Ingredion is a recognized leader in providing performance-based specialty ingredients that contribute to the circular economy of the paper and packaging industries.
ABOUT THE COMPANY
Ingredion Incorporated (NYSE: INGR) headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2024 annual net sales of approximately
CONTACT:
Investors: Noah Weiss, 773-896-5242
Media: Rick Wion, 708-209-6323
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