Ingredion to cease operations at Vanscoy plant protein facility; expects ~$66M pre-tax charges

Ingredion Inc

Ceasing operations at Vanscoy, Saskatchewan plant protein concentrates and flour facility effective Jan 6, 2025, after strategic review.
Expects $65M pre-tax non-cash impairment charges (fixed assets & inventory) and ~$1M cash costs for employee severance and termination.
Majority of charges in Q4 2024; remainder through Q4 2025. Facility to be sold, no contract yet.
Approximately 20 employees affected.

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