WESTCHESTER, Ill., Feb 22, 2005 /PRNewswire-FirstCall via COMTEX/ -- Corn Products
International, Inc. (NYSE: CPO) today stated that it has substantially
completed contracting for its US business. The Company expects that its US
sweetener prices will increase in the low-single-digit range in 2005.
We believe that the price increase will be sufficient to offset higher
energy costs in the US business. As a result, the Company expects its US
business to see improving operating margins in 2005 and to have another year
of improvement on its return on capital.
The Company plans to comment further regarding its 2005 outlook when it
reports first-quarter results.
ABOUT THE COMPANY
Corn Products International, Inc. 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 is the number-one worldwide producer of dextrose
and a leading regional producer of starch, high fructose corn syrup and
glucose. In 2004, the Company recorded net sales of $2.3 billion with
operations in 19 countries at 34 plants, including wholly owned businesses,
affiliates and alliances. Headquartered in Westchester, Ill., it was founded
in 1906. The Company is listed on the New York Stock Exchange under the
symbol CPO. Additional information can be found on the World Wide Web at
This release contains or may contain forward-looking statements concerning
the Company's financial position, business and future earnings and prospects,
in addition to other statements using words such as "anticipate," "believe,"
"plan," "estimate," "expect," "intend" and other similar expressions. These
statements contain certain inherent risks and uncertainties. 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 conveyed in these
statements, based on various factors, including fluctuations in worldwide
commodities markets and the associated risks of hedging against such
fluctuations; fluctuations in aggregate industry supply and market demand;
general political, economic, business, market and weather conditions in the
various geographic regions and countries in which we manufacture and/or sell
our products, including fluctuations in the value of local currencies, energy
costs and availability and changes in regulatory controls regarding quotas,
tariffs, taxes and income tax rates; labor disputes; biotechnology issues;
changing consumption preferences and trends; increased competitive and/or
customer pressure in the corn-refining industry; the outbreak or continuation
of hostilities including acts of terrorism; stock market fluctuation and
volatility; and the resolution of the current uncertainties resulting from the
Mexican HFCS tax. 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. 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 risk factors, see the Company's
most recently filed Annual Report on Form 10-K and subsequent reports on Forms
10-Q or 8-K.
SOURCE Corn Products International, Inc.
Richard Vandervoort, +1-708-551-2595 (investors), or Mark Lindley, +1-708-551-2602
(media), both of Corn Products International, Inc.