The American group Ingredion, the world's largest corn processor, producer of starch, glucose, syrups, dextrose, and other food additives, has signed an agreement with the Austrian company Agrana, the largest sugar producer in Romania, to produce starch in Țăndărei (Ialomița County).

"We want to boost our growth in Europe by entering into a partnership, and we believe that Ingredion is the ideal partner for this. The collaboration combines our different expertise in starch production," said Stephan Büttner, CEO of Agrana Beteiligungs-AG, according to Ziarul Financiar.

This strategic alliance will not only strengthen Agrana's production capabilities in Romania but will also expand Ingredion's footprint in the European market.

Ingredion will purchase a 49% stake in the company AGFD Țăndărei from Agrana, with the two parties working together in a joint venture aimed at increasing starch production in Romania.

Taken over by Agrana in 2001 and upgraded in 2002, AGFD Țăndărei produces native and modified starch, glucose and maltose syrups, germ, gluten, and corn bran. Its annual processing capacity is 36,000 tonnes of corn. Its turnover was RON 193 million (EUR 40 million) in 2023.

iulian@romania-insider.com

(Photo source: Halil Ibrahim Mescioglu/Dreamstime.com)