Penford Completes Sale of New Zealand Operations

We are grateful to our former co-workers at Penford New Zealand who have made significant contributions to Penford over the years, and we wish them well under their new ownership.”

3 Sep 2009 --- Penford Corporation announced that the sale of its former subsidiary company, Penford New Zealand Limited, has been completed.

Tom Malkoski, President & Chief Executive Officer, stated, “This sale is an important milestone in our plan to proceed with the disposal of our Australia/New Zealand Operations.

We are grateful to our former co-workers at Penford New Zealand who have made significant contributions to Penford over the years, and we wish them well under their new ownership.”

Penford Corporation develops, manufactures and markets specialty, natural-based ingredient systems for industrial and food ingredient applications, including fuel ethanol. Penford has eight manufacturing and/or research locations in the United States and Australia.