Ingredion to invest $30m in Mexico
Ingredion has announced that it plans to invest approximately $30 million in Mexico to expand capacity at the company’s San Juan del Rio manufacturing facility.
Over the past several years, the company said that this facility has been increasing production to support the growth demands of Ingredion’s core and specialty products. The expansion project is expected to be complete in the first quarter of 2017.
“We are excited about this incremental investment. With close to $1 billion in annual sales, Mexico is a profitable and growing market for us. It has a positive economic outlook and favorable demographics,” said Jim Zallie, Ingredion executive vice president, global specialties and president, Americas.
“As our customers continue to invest in Mexico there’s an increasing demand for our ingredients and our local manufacturing capabilities are a competitive advantage. This investment will position us to address our customer needs while further enhancing shareholder value.”
Ingredion is an ingredient provider based in Westchester, Illinois. The company processes corn, tapioca, potatoes, and other raw materials into ingredients for the food, beverage, brewing, and pharmaceutical industries and numerous industrial sectors. It has more than 11,000 employees around the world, and customers in more than 60 markets in over 40 countries.
