Corn Products International's Board of Directors Authorizes New Common Stock Repurchase Program of 5 Million Shares
November 07 2007 - 5:02PM
PR Newswire (US)
WESTCHESTER, Ill., Nov. 7 /PRNewswire-FirstCall/ -- Corn Products
International, Inc. (NYSE:CPO), a leading global provider of
agriculturally derived ingredients for diversified markets,
announced today that its Board of Directors has authorized a new
common stock repurchase program of 5 million shares, effective on
November 9, 2007 and expiring on November 30, 2010. Corn Products
International's existing stock repurchase program of 4 million
shares was authorized on February 9, 2005. As of the close of
business on November 6, 2007, the Company had repurchased
approximately 3.3 million shares under the existing program, then
leaving approximately 700,000 shares available for repurchase.
Under both programs, repurchases of issued and outstanding common
stock may be made from time to time in the open market, in
privately negotiated transactions or otherwise, at prices that the
Company deems appropriate. About the Company Corn Products
International is one of the world's largest corn refiners and a
major supplier of high-quality food ingredients and industrial
products derived from the wet milling and processing of corn and
other starch-based materials. The Company, headquartered in
Westchester, Ill., is the number-one worldwide producer of dextrose
and a leading regional producer of starch, high fructose corn syrup
and glucose. In 2006, Corn Products International reported record
net sales and diluted earnings per share of $2.62 billion and
$1.63, respectively, with operations in 15 countries at 35 plants,
including wholly owned businesses, affiliates and alliances. For
more information, visit http://www.cornproducts.com/. DATASOURCE:
Corn Products International, Inc. CONTACT: Investors, Dave
Prichard, +1-708-551-2592, or media, Mark Lindley, +1-708-551-2602,
both of Corn Products International, Inc. Web site:
http://www.cornproducts.com/
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