Ingredion Inc. (NYSE:INGR), a leading global provider of ingredient solutions to diversified industries, announced that it plans to invest approximately $100 million to increase its manufacturing capacity for specialty ingredients. The planned expansion is driven by the growing demand for the Company's higher-valued 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 like 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 ongoing capital expenditures of over $1 billion since 2009.