2012-11-28 17:23:35 -
SOLID BUSINESS MODEL DRIVING SUCCESS
NEW YORK, N.Y., November 28, 2012 - During a presentation to investment analysts
at the New York Stock Exchange today, Ingredion Incorporated (NYSE:INGR)
Chairman, President and CEO Ilene Gordon reviewed long-term business targets and
outlined the growth strategies driving the Company's success as a leading global
supplier of ingredient solutions.
"We have a solid business model and know how to create value. Over the last
three years we have met or exceeded our long-term performance targets. Our
balanced mix of products, geographies and industries served position us well now
and into the future for growth," she explained.
Highlighting the company's innovation, Gordon emphasized the Company's
capabilities in delivering solutions that meet important customer trends like
health, nutrition and wholesome/natural ingredients. "Our on-going R&D
investment is part of our
ingredient solution strategy," she said.
Cheryl K. Beebe, Ingredion CFO, reviewed the Company's long-term targets that
remain attractive and achievable. "We expect earnings per share to grow 10 to
12 percent over the long term, while maintaining a focus on return on capital
employed. Earnings performance should be driven by a combination of organic
sales growth of three to four percent, cost efficiencies and mix improvement,"
she stated.
In addition the Company has the opportunity to drive earnings growth through
acquisitions and/or share repurchase. "Over time we have demonstrated our
ability to achieve these targets. In fact, we have exceeded our targeted EPS
growth with 17 percent adjusted EPS CAGR since going public in 1998," Beebe
pointed out.
An audio webcast of the presentations, including slides is available in the
Investors section of the Company's website, www.ingredion.com.
ABOUT THE COMPANY
Ingredion Incorporated (NYSE:INGR) is a leading global ingredients solutions
provider specializing in nature-based sweeteners, starches and nutrition
ingredients. With customers in more than 40 countries, Ingredion, formerly Corn
Products International, Inc. serves approximately 60 diverse sectors in food,
beverage, brewing, pharmaceuticals and other industries. For more information,
visit ingredion.com.
CONTACT:
Investors: Aaron Hoffman, 708-551-2592
Media: Claire Regan, 708-551-2602
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,"
"believe," "plan," "project,"
"estimate," "expect," "intend," "continue," "pro
forma," "forecast" 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 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 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; continued 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, pharmaceuticals, paper, corrugated,
textile 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; operating difficulties; availability of raw
materials, including tapioca and the specific varieties of corn upon which our
products are based; 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.
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, 2011 and subsequent reports on Forms 10-Q
and 8-K.
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originality of the information contained therein.
Source: Ingredion Incorporated via Thomson Reuters ONE
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