USA: Penford Corporation and Cargill to form $200 million joint venture combining industrial starch businesses
Penford Corporation (Nasdaq:PENX) and Cargill today announced their intent to form a joint venture combining their industrial starch businesses in North America. The companies will create an enhanced specialty-starch ingredient manufacturing and distribution business, with estimated annual sales of about $200 million focusing primarily on the paper and textile industries. The joint venture is anticipated to generate significant cost-efficiencies.
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