| Type | Public NYSE: CPO |
|---|---|
| Industry | food, beverage, pharmaceutical, animal feed, corrugating, paper, textile, Health & Wellness |
| Founded | 1906 |
| Headquarters | Westchester, Illinois, USA |
| Key people | Ilene S. Gordon, Chairman, President and CEO |
| Products | sweeteners, starches, syrups, glucose |
| Revenue | $3.94b (2008) |
| Employees | 7,800 |
| Website | www.cornproducts.com |
Corn Products International, Inc. is an Illinois-based refiner and processor of corn-based food additives and sweeteners. It operates factories in 15 countries.[1]
Headquartered in the Chicago suburb of Westchester, Illinois, Corn Products International is a leading supplier of starches, sweeteners and other ingredients. Corn Products is the world’s largest producer of dextrose and a leading regional manufacturer of starches, syrups and glucose. The company provides a wide variety of ingredients to customers in more than 60 industries, including the food, beverage, pharmaceutical, animal feed, corrugating, paper and textile sectors.
The Company’s North America region includes businesses in Canada, Mexico and the United States. South American operations span Argentina, Brazil, Chile, Colombia, Ecuador, Peru and Uruguay. In Asia and Africa, the Company operates in China, Kenya, Pakistan, South Korea, Thailand, Malaysia and South Africa.
The company, once known as Corn Products Refining Co. and later on as CPC, supplied the raw materials for Argo cornstarch and Mazola corn oil.[2]
From 1919 till 1987 CPC International owned starch factories in Europe. The factories were sold to the french sugar manufacturer Béghin-Say and renamed Cerestar.[3] Cerestar was acquired in 2002 by Cargill.
In 1981 CPC formed a partnership with Texaco till 1995 to produce bioethanol at a plant in Pekin, Illinois. In 1995 the plant was sold to Williams Companies and in 2003 continued as Aventine Renewable Energy.
From 1958 to 1997, Bestfoods was part of the company, known for their brands Maizena, Knorr, Hellmann's and Bestfood mayonaise, Skippy peanut butter.[4]
In 1997, the company was split in packaged-food company Bestfoods and starch company Corn Products International. Corn Products International is a Fortune 1000 Company.
On October, 1 2010, the CPI acquired National Starch of Dutch paints firm AkzoNobel for $1.3 billion in cash, while also assuming an undisclosed amount of pension and employee benefit liabilities.
The combined company employs approximately 10,000 people in North America, South America, Europe, the Middle East, Africa and Asia-Pacific. It operates 37 manufacturing facilities in 15 countries; has sales offices in 29 countries, and has research and ingredient development centers in key global markets.[5]