Corn Products International is planning to change its name to Ingredion, in a move the US ingredients group said would reflect the growth of the business.
The company, which supplies starch and sweetener ingredients to the food industry, will put the name change to its shareholders at its AGM in May.
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“Ingredion doesn’t represent a change in strategy or a change in the strong business model that we’ve built. It does, however, better reflect the diversity and growth of our product offerings and is more representative of the stronger, more global company we have become,” chairman, president and CEO Ilene Gordon said.
In 2010, Corn Products International acquired speciality starch ingredients business National Starch from chemicals giant AkzoNobel for US$1.3bn.
