Boca Raton, Fla., February 21, 2017 - During a presentation today at the Consumer Analyst Group of New York (CAGNY) annual conference, Ingredion Incorporated (NYSE: INGR) executives reviewed the strategy driving the Company's success as a leading global supplier of ingredient solutions.
Ilene Gordon, chairman, president and CEO, told the audience of investors and analysts that, "our success is anchored in a core value proposition of texture, sweetness, and nutrition combined with an innovation focus aligned with key market trends. Since implementing our strategic blueprint for growth seven years ago, we have created outstanding shareholder value."
Jim Zallie, executive VP global specialties and president, Americas, explained Ingredion's focus on global consumer trends, including natural and simple ingredients, reduced sugar and convenience. "We collaborate with customers to create solutions for on-trend products that win in the market place," he said. Zallie also reviewed the high growth potential for texture ingredients. "Texture is now as important a differentiator as flavor in foods. Our recent acquisition of TIC Gums deepens and expands Ingredion's texture capabilities," he added.
Jorgen Kokke, senior VP and president Asia Pacific and EMEA, gave examples of the various ways Ingredion's products create value for customers. "Consumers in the Asia-Pacific region have a sweet tooth, but they're also increasingly concerned about health and nutrition. With our broad portfolio of sweeteners, we help dairy and beverage customers reduce sugars without compromising the sweetness consumers want."
Jim Gray, VP of finance and CFO effective March 1, gave the financial results and long-term outlook. "Our good performance and solid returns generate consistent cash flow which is deployed to enhance value through capital expenditures, acquisitions, dividends or share repurchases. Going forward, we expect to continue to drive growth with a keen focus on our higher-value specialty portfolio," he explained.
An audio webcast of the presentations, including sides, is available in the Investors section of the Company's website, ingredion.com.
ABOUT INGREDION Ingredion Incorporated (NYSE: INGR) is a leading global ingredient solutions provider. We turn grains, fruits, vegetables and other plant materials into value-added ingredients and biomaterial solutions for the food, beverage, paper and corrugating, brewing and other industries. Serving customers in over 100 countries, our ingredients make crackers crunchy, yogurts creamy, candy sweet, paper stronger and add fiber to nutrition bars. Visit Ingredion.com to learn more.
Forward-Looking Statements This news release contains or may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends these forward-looking statements to be covered by the safe harbor provisions for such statements.
Forward-looking statements include, among other things, any statements regarding the Company's prospects or future financial condition, earnings, revenues, tax rates, capital expenditures, expenses or other financial items, any statements concerning the Company's prospects or future operations, including management's plans or strategies and objectives therefor and any assumptions, expectations or beliefs underlying the foregoing.
These statements can sometimes be identified by the use of forward looking words such as "may," "will," "should," "anticipate," "assume", "believe," "plan," "project," "estimate," "expect," "intend," "continue," "pro forma," "forecast," "outlook," "propels," "opportunity," "potential" or other similar expressions or the negative thereof. All statements other than statements of historical facts in this release or referred to in this release are "forward-looking statements."
These statements are based on current circumstances or expectations, but are subject to certain inherent risks and uncertainties, many of which are difficult to predict and are beyond our control. Although we believe our expectations reflected in these forward-looking statements are based on reasonable assumptions, stockholders are cautioned that no assurance can be given that our expectations will prove correct.
Actual results and developments may differ materially from the expectations expressed in or implied by these statements, based on various factors, including the effects of global economic conditions, including, particularly, continuation or worsening of the current economic, currency and political conditions in South America and economic conditions in Europe, and their impact on our sales volumes and pricing of our products, our ability to collect our receivables from customers and our ability to raise funds at reasonable rates; fluctuations in worldwide markets for corn and other commodities, and the associated risks of hedging against such fluctuations; fluctuations in the markets and prices for our co-products, particularly corn oil; fluctuations in aggregate industry supply and market demand; the behavior of financial markets, including foreign currency fluctuations and fluctuations in interest and exchange rates; volatility and turmoil in the capital markets; the commercial and consumer credit environment; general political, economic, business, market and weather conditions in the various geographic regions and countries in which we buy our raw materials or manufacture or sell our products; future financial performance of major industries which we serve, including, without limitation, the food and beverage, paper, corrugated, and brewing industries; energy costs and availability, freight and shipping costs, and changes in regulatory controls regarding quotas; tariffs, duties, taxes and income tax rates; particularly United States tax reform; operating difficulties; availability of raw materials, including potato starch, tapioca, gum arabic and the specific varieties of corn upon which our products are based; our ability to develop or acquire new products and a services at rates or of qualities sufficient to meet expectations; energy issues in Pakistan; boiler reliability; our ability to effectively integrate and operate acquired businesses; our ability to achieve budgets and to realize expected synergies; our ability to complete planned maintenance and investment projects successfully and on budget; labor disputes; genetic and biotechnology issues; changing consumption preferences including those relating to high fructose corn syrup; increased competitive and/or customer pressure in the corn-refining industry; and the outbreak or continuation of serious communicable disease or hostilities including acts of terrorism. Factors relating to the acquisition of TIC Gums that could cause actual results and developments to differ from expectations include: the anticipated benefits of the acquisition, including synergies, may not be realized; and the integration of TIC Gum's operations with those of Ingredion may be materially delayed or may be more costly or difficult than expected.
Our forward-looking statements speak only as of the date on which they are made and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of the statement as a result of new information or future events or developments. If we do update or correct one or more of these statements, investors and others should not conclude that we will make additional updates or corrections. For a further description of these and other risks, see "Risk Factors" included in our Annual Report on Form 10-K for the year ended December 31, 2015 and subsequent reports on Forms 10-Q and 8-K.
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CONTACT:
Investors: Heather Kos, 708-551-2592
Media: Claire Regan, 708-551-2602
