Corn Products International Completes Acquisition of SPI Polyols Food Business and Remaining 50 Percent of Getec Polyols Joint Venture in Brazil
WESTCHESTER, Ill., Feb. 12 / -- Corn Products International, Inc. (NYSE:CPO) today announced the completion of its acquisition of the food business of SPI Polyols, a subsidiary of ABF North America Holdings, Inc., and the shares of an SPI unit that holds the 50 percent of a Brazilian polyols joint venture, Getec Guanabara Quimica Industrial S.A., or Getec, not already held by Corn Products International. A definitive agreement was announced on January 11. Terms of the acquisition were not disclosed.
About the Company
Corn Products International is one of the world's largest corn refiners and a major supplier of high-quality food ingredients and industrial products derived from the wet milling and processing of corn and other starch-based materials. The Company, headquartered in Westchester, Ill., is the number-one worldwide producer of dextrose and a leading regional producer of starch, high fructose corn syrup and glucose. In 2006, Corn Products International reported record net sales and diluted earnings per share of $2.62 billion and $1.63, respectively, with operations in 15 countries at 34 plants, including wholly owned businesses, affiliates and alliances. For more information, visit www.cornproducts.com/ .
First Call Analyst:
FCMN Contact:
Source: Corn Products International, Inc.
CONTACT: Investors, Dave Prichard, +1-708-551-2592, or Media, Mark Lindley, +1-708-551-2602, both of Corn Products International, Inc.
Web site: www.cornproducts.com/
