Corn Products International Completes Acquisition of National Starch
The combined company currently employs approximately 10,000 people in North America, South America, Europe, the Middle East, Africa and Asia-Pacific.
Oct 4 2010 --- Corn Products International, Inc., a leading global provider of agriculturally derived ingredient solutions to diversified industries, announced that it has completed its acquisition of National Starch, the specialty starches business of AkzoNobel N.V.
“This is an important step forward for both Corn Products and National Starch, and a tremendous opportunity for our investors, customers, suppliers and employees around the world,” said Ilene Gordon, Chairman, President and Chief Executive Officer of Corn Products International. “Today, we go to market with a broader portfolio of products, enhanced geographic reach, and the ability to partner with our customers on customized and innovative solutions. This makes Corn Products International a stronger, more diversified player in the ingredient arena. We can offer our customers a broad range of value-added ingredient solutions for a variety of their evolving needs.”
The combined company currently employs approximately 10,000 people in North America, South America, Europe, the Middle East, Africa and Asia-Pacific. It operates 37 manufacturing facilities in 15 countries; has sales offices in 29 countries, and has research and ingredient development centers in key global markets.
“National Starch is an exceptional company,” Gordon said. “It has a strong track record of developing new, innovative ingredients, and its skilled, experienced employees share Corn Products’ goals and values. We believe that, in every way, this is an ideal fit for Corn Products.
“As we integrate these two historic companies, we are committed to bringing together the best of what each has to offer in order to build the finest ingredient solutions provider in our industry.”
Corn Products International announced that it had entered into a definitive agreement to acquire National Starch, a New Jersey-based global provider of specialty starches, from AkzoNobel, the largest global coatings and specialty chemicals company, headquartered in The Netherlands in June.
Combining National Starch with Corn Products will create an ingredient solutions leader with nearly $5 billion in revenues.
