Penford Corporation uses nature to create specialty, natural-based ingredient systems for the food products, papermaking, and textile industries. Headquartered in Englewood, Colorado, the company has nine locations spread over three countries – the United States, Australia, and New Zealand. Their Cedar Rapids, Iowa location is their largest manufacturing facility.
They’re a part of the Specialty Chemicals sector, listed on the NASDAQ exchange, and have a market cap of 239.3M. Penford began over a hundred years ago when George Douglas started the company in Cedar Rapids. Today it is the largest modified starch producer in the world, and supplies these products to all segments of the food industry. Penford is also a supplier of natural starches to customers embracing the organic food trend.
Penford Corporation is at the forefront of starch, dextrose, and dextrin product development. The core natural foods they work with are potatoes, rice, corn, and tapioca. They are essentially carbohydrate chemists, who produce natural or modified products from these four sources. Food industry experts and scientists work in harmony to come up with new ingredients and applications, using nature creatively.
Their products are used in baking, sauces and gravies, dairy products, meat, poultry, seafood, and in coatings and batters. They are the leading North American producer of modified food-grade potato starch. Their dextrose product finds use with companies who manufacture coated tablets. They also produce nutritional chews and treats for the pet food industry.
Penford Corporation also supplies specialty chemical starches to papermakers and textile makers. These starches are in adhesives, coatings, and binders. Their binder products help improve the surface strength and print quality of paper.
The Cedar Rapids location manufactures and ships tons of specialty cornstarches to paper mills worldwide. They use 70 percent of the corn kernel to produce these starches; with the remaining 30 percent, they make gluten meal, gluten feed, corn germ meal, and condensed fermented corn extractives. Penford Corporation continues to do what comes naturally to them – using the earth’s bounty to make products that help humans and animals alike.
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