Investment in Corn Products International, Inc. Will Help Reduce Plant Emissions
CHICAGO – Gov. Rod R. Blagojevich today congratulated Corn Products International, Inc., a Westchester-based corn refiner, upon the dedication of an environmentally friendly Circulating Fluidized Bed (CFB) boiler at the company’s Argo facility in Bedford Park. The boiler was made possible, in part, through a $6 million Opportunity Returns grant. The boiler, which replaced three aging coal-fired boilers, helps the company to reduce the plant’s emissions, provide more efficient energy production and maintain its competitiveness. The company employs about 600 people in Illinois and is a major consumer of Illinois corn. Illinois Department of Commerce and Economic Opportunity (DCEO) Director Jack Lavin and Illinois Environmental Protection Agency (IEPA) Director Doug Scott joined company and local officials for the ceremony.
“Today we celebrate another important milestone in Corn Products International’s long, rich Illinois history that improves both our air quality and boosts our economy. This project not only increases the use of Illinois coal and limestone, but also helps our farmers by enabling a major corn consumer to remain on the cutting-edge. By creating a business climate that encourages innovation and investment and not raising taxes, we are helping many companies like Corn Products remain competitive, while putting more people to work,” Gov. Blagojevich said.
Corn Products International, which is celebrating its 100th anniversary this year, is a multinational ingredients manufacturer headquartered in Westchester, with more than 6,000 employees and 2005 net sales of $2.36 billion. The company’s Argo plant, located in Bedford Park in southwest Cook County, is the company’s oldest and largest facility, beginning operations in 1908. The 280-acre plant processes corn into a variety of food and industrial products, including sweeteners such as corn syrup, high fructose corn syrup, and dextrose, as well as starches, corn oil and animal feeds.
In 2003, the company announced a capital project of approximately $100 million to build a new, large Circulating Fluidized Bed (CFB) boiler to help power the facility. The boiler, which replaces older boilers at the facility, will primarily burn coal and will reduce emissions from the plant. The Opportunity Returns grant, which came from DCEO’s Office of Coal Development, helped Corn Products design, engineer and construct the new coal boiler. The CFB boiler will be powered with Illinois coal as its primary fuel, with natural gas as the back-up fuel.
In addition to improving the plant’s energy efficiency and assisting the company to remain competitive, the new boiler will require both coal and limestone, which can be sourced from Illinois companies. In addition, the Argo Plant has purchased billions of bushels of corn from Illinois farmers during its first century of operation in Bedford Park. Furthermore, the new CFB boiler will comply with all applicable emissions requirements when using high sulfur Illinois coal.
“By supporting this initiative, Gov. Blagojevich is helping expand the market for an important Illinois natural resource that will also act as a great catalyst of economic growth and job creation. It is innovative
projects like this that will continue to boost our economy,” State Senator Louis Viverito (D-Burbank) said.
“This new boiler provides our company’s largest facility with a reliable supply of energy, which is of critical importance to any manufacturer today,” said Jack Fortnum, President, North America Division, Corn Products International, Inc. “And the use of clean-coal technology means that we will maintain our status as a good corporate neighbor in our community.”
The Governor recently announced an ambitious Energy Independence Plan, which would ensure that 25 percent of natural gas consumed in Illinois would come from Illinois coal. Coal is found under 37,000 square miles in Illinois and contains more energy than the oil reserves of Saudi Arabia and Kuwait combined. In fact, Illinois has 38 billion tons of recoverable coal, accounting for 12 percent of all coal in the U.S. The Governor’s plan would invest $775 million over the next ten years to help build up to ten new coal gasification plants across Illinois. These plants would meet 25 percent of Illinois’ diesel fuel needs, 25 percent of natural gas needs and ten percent of electricity needs by 2017. This plan would create almost 20,000 construction jobs and 10,000 permanent jobs.
“We’re thrilled to be a part of this exciting project at Corn Products International because it helps to maintain the competitiveness of a leading Illinois manufacturer and continues building a market for a clean fuel source that is so important to the Illinois economy,” said DCEO Director Jack Lavin.
“This investment shows that good environmental practices can also benefit our economy and will result in cleaner air while enabling a long-time Illinois manufacturer that uses two of our most abundant resources –
corn and coal – to remain competitive," said Illinois EPA Director Doug Scott.
Corn Products International is one of the world’s largest corn refiners and a major supplier of high-quality food ingredients and industrial products derived from the wet milling and processing of corn. The company is the number one worldwide producer of dextrose and a leading regional producer of starch, high fructose corn syrup and glucose. The company is listed on the New York Stock Exchange under the symbol CPO. Additional information can be found on the World Wide Web at www.cornproducts.com.