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|Corn Products International's Board of Directors Authorizes New Common Stock Repurchase Program of 5 Million Shares|
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.