Nasdaq GlobeNewswire

CP Kelco Closes Sale of Carrageenan Production Site in Philippines to Marcel Trading Corporation

Del
ATLANTA, May 11, 2018 (GLOBE NEWSWIRE) -- CP Kelco, a leading global producer of specialty hydrocolloid ingredients, today announced it has completed the sale of its carrageenan plant in Sibonga, Cebu, Philippines, to Marcel Trading Corporation, a carrageenan producer in the Philippines.

In May 2017, CP Kelco made the decision to seek a strategic buyer for the Cebu plant, based on the company's strategy and business objectives. Gel-pressed/refined carrageenan (GPC) and semi-refined carrageenan (SRC) products were the Cebu plant's primary products.

"We are pleased to have found a new, strategic owner for the Cebu facility," said Didier Viala, President of CP Kelco. "Under Marcel's ownership, the plant will restart operations and provide employment opportunity for the local community."

CP Kelco is not exiting the carrageenan business and continues to operate a carrageenan production facility in Lille Skensved, Denmark. Utilizing its deep applications expertise and technology, the company remains committed to providing the global market with high-quality alcohol precipitated (APC), SRC and GPC carrageenan products, now and in the future.

About CP Kelco
Headquartered in Atlanta, Georgia, USA, CP Kelco is a leading producer of specialty hydrocolloids with offices and facilities across the globe. Featuring an extensive range of hydrocolloid solutions and serving over 100 countries, CP Kelco leverages its capabilities to bring concepts and ideas to real-world products in a broad range of applications. The company's specialty ingredients touch a wide variety of industrial applications, consumer and household products, tailored to meet the needs of regional consumers. Key product lines are Gellan Gum, Pectin, Xanthan Gum, Carrageenan, Diutan Gum, Cellulose Gum/Carboxymethyl Cellulose, and Microparticulated Whey Protein Concentrate, as well as other unique biopolymers. Visit www.cpkelco.com for more information.

 

CONTACT:
Michele Cacdac-Jones
Office: +1 678 247 7149
Mobile: +1 770 743 0564
michele.cacdac-jones@cpkelco.com 
 

 




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: CP Kelco via Globenewswire

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