Tate & Lyle to invest $90m in food starch plants in Indiana
Tate & Lyle, a British food and beverage firm, is planning to invest around $90m in its food sta…Tate & Lyle, a British food and beverage firm, is planning to invest around $90m in its food starch production plants in Lafayette, Indiana over the next three years.
The investment will be used in the three-phased expansion of Tate & Lyle's Lafayette Sagamore facility to increase its modified food starch production capacity, as well as improvements to increase efficiencies at its Lafayette South facility.
The expansion and improvements are scheduled for completion in 2017.
Tate & Lyle Specialty Food Ingredients president Olivier Rigaud said that the company's investments in Lafayette positions it for future flexibility and growth within its markets and allows it to meet consumer demands while making continued improvements in the environmental performance.
"We'd like to thank the state of Indiana and the city of Lafayette for their ongoing support of these projects and look forward to our continued relationship with them," added Rigaud.
Additionally, the company has secured around $375,000 in conditional tax credits from the Indiana Economic Development Corporation for its investment plans.
