Ingredion to expand food ingredients business in Asia-Pacific

Global ingredient solutions provider Ingredion is to grow its speciality food ingredients business in the Asia-Pacific with a $60m investment.

Earlier this year, the company initiated the expansion of its modified and clean-label speciality starch capabilities in tapioca, waxy corn and rice.

Ingredion president and CEO Jim Zallie said: “These strategic investments are designed to accelerate our growth and strengthen our manufacturing network in Asia to meet increased consumer demand.

“Growing our global specialities business to $2bn in annual sales by 2022 is an integral part of our strategy to deliver long-term profitable growth and enhance shareholder value.

“The actions being taken in Asia are consistent with our global strategy to invest in our speciality starch franchise and expand our capabilities to innovate and offer more customised solutions for our customers around the world.”

The investment will see a 20% expansion of its tapioca-modified food starch capacity in Thailand, as well as upgrades to its wastewater treatment facilities.

The company also intends to improve its production capacity and increase the regulatory standards of its speciality rice starch and rice flour business in Thailand, which was acquired last year.

Ingredion also plans for a 30% expansion of its modified food starch capacity and also improve its corn wet milling capacity in China.

Ingredion Asia-Pacific senior vice-president and president Valdirene Licht said: “We see growing demand for both clean-label ingredients and speciality starch-based texturisers throughout the region.

“The investments will allow us to continue to evolve with our customers to provide innovative, on-trend solutions.”

Ingredion currently operates four manufacturing facilities in Thailand and three manufacturing facilities in China.