Ingredion Inc

Form Type: 8-K

Filing Date: 2025-01-06

Corporate Action: Liquidation

Type: New

Accession Number: 000104625725000003

Comments: Ingredion Incorporated committed to ceasing operations at its plant protein concentrates and flour manufacturing facility in Vanscoy, Saskatchewan, Canada, effective January 6, 2025. This decision followed a strategic review of the business. The facility employs approximately twenty workers and the company plans to sell the manufacturing facility and its underlying real property, although no sale contract has been executed as of this report. Ingredion estimates incurring pre-tax non-recurring charges totaling approximately $66 million, primarily comprising around $65 million in impairment charges regarding fixed asset and inventory write-downs, along with about $1 million in employee-related costs including severance. The company anticipates the majority of these charges will occur in the fourth quarter of 2024, with remaining costs extending into subsequent fiscal periods up to the fourth quarter of fiscal 2025.

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