Penford Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of specialty natural-based ingredient systems for food and industrial ingredient applications primarily in the United States. It develops and manufactures ingredients with starch as a base. The starch products are manufactured primarily from corn and potatoes, and are used primarily as binders and coatings in paper, packaging, and food production, as well as an ingredient in fuel. The company’s Industrial Ingredients segment provides chemically modified specialty starches to the paper, packaging, and other industries in ethylated, oxidized, and cationic forms. Its ethylated and oxidized starches are used in coatings and as binders, providing printability to fine white, magazine, and catalog paper; and cationic and other liquid starches are used in the paper-forming process in paper production, providing the bonding of paper fibers and other ingredients. This segment also produces and sells fuel grade ethanol. The company’s Food Ingredients segment offers specialty starches and dextrins to the food manufacturing and food service industries. Its specialty starches are used in coatings for products, such as French fries sold in restaurants; to reduce fat levels in various foods, which include canned products, sauces, whole and processed meats, dry powdered mixes, and bakery products; and as moisture binders and in companion pet products that comprise dog treats and chews. Penford Corporation sells its products through a direct sales force, as well as through distributor agreements to manufacturers and processors. The company was founded in 1894 and is headquartered in Centennial, Colorado.

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