Corn Products Announces Correction to Damage Award

While the amount of damages, $58.4 million, has not changed, the decision makes the damages payable to Corn Products International, Inc, instead of its wholly owned subsidiary, CPIngredientes, to eliminate double taxation.

29 Mar 2010 --- Corn Products International, Inc., a leading global provider of ingredient solutions to diversified industries, has received a further decision in its case against the United Mexican States arising out of a 2002 tax imposed on soft drinks using sweeteners other than cane sugar.

The tribunal has issued a correction of its August 2009 damages award. While the amount of damages, $58.4 million, has not changed, the decision makes the damages payable to Corn Products International, Inc, instead of its wholly owned subsidiary, CPIngredientes, to eliminate double taxation.