Penford Corporation yesterday [Tuesday] announced that it has begun constructing new production capacity in Cedar Rapids, Iowa, that will be dedicated to manufacturing proprietary corn-based food ingredients and ingredient systems.
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The facility in Cedar Rapids currently manufactures specialty starch-based ingredient systems solely for industrial applications, including papermaking and textiles. The project is scheduled to be completed in the spring of 2002. The cost of the project was not disclosed.
Thomas D. Malkoski, CEO of Penford, commented: “This project accomplishes several strategic objectives for Penford. First, it gives us our initial capability to produce specialty food-grade corn ingredients in the US.
“It also frees up much-needed capacity in our Australian operation and allows Penford to optimize production of our food-grade corn product portfolio in the US, Australia and Asia. And lastly, it will add to the overall efficiency and flexibility of our Cedar Rapids facility.”
“By adding high-value food-grade corn ingredient capacity in the US, we will further enhance Penford’s position as a market leader in delivering technically-differentiated, specialty ingredients to our customers in the food and paper industries.”
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