Ingredion Authorizes New 4M Share Buyback; Buys Back 2.5M Shares in Q4

Ingredion Incorporated (NYSE: INGR)today announced that its Board of Directors has authorized a new stockrepurchase program permitting the purchase of up to 4 million of itsoutstanding common shares, effective on December 13, 2013 and expiring onDecember 12, 2018.  Stock repurchases may be made by the company from time totime in the open market, in privately negotiated transactions or otherwise, atprices that the company deems appropriate.The company's previous stock repurchase program permitting the purchase of upto 5 million shares was completed during the fourth quarter as the companyrepurchased  2.5 million shares at an average price of $68.55.  The companybought back 880,000 shares during the third quarter of 2013 at an averageprice of $62.91.  For the full year, the company repurchased almost 3.4million shares at an average cost of $67.08."As we became more comfortable with our cash flow for 2013 and the outlook forcash flow in 2014, we repurchased a substantial number of shares.  We continueto see great value in appropriately buying back our shares and expect to do soin the future to at least cover dilution created by option issuance," saidIlene S. Gordon, Chairman and CEO.  The stock repurchase program does not obligate Ingredion to repurchase anyshares under the authorization, and the program may be suspended, discontinuedor modified at any time, for any reason and without notice.ABOUT THE COMPANYIngredion Incorporated (NYSE: INGR) is a leading global ingredients solutionsprovider specializing in nature-based sweeteners, starches and nutritioningredients.  With customers in more than 40 countries, Ingredion servesapproximately 60 diverse sectors in food, beverage, brewing, pharmaceuticalsand other industries.  For more information, visit ingredion.com.Forward-Looking StatementsThis news release contains or may contain forward-looking statements withinthe meaning of Section 27A of the Securities Act of 1933, as amended, andSection 21E of the Securities Exchange Act of 1934, as amended. The Companyintends these forward-looking statements to be covered by the safe harborprovisions for such statements.Forward-looking statements include, among other things, any statementsregarding the Company's prospects or future financial condition and timing ofshare repurchases.These statements can sometimes be identified by the use of forward lookingwords such as "may," "will," "should," "anticipate," "believe," "plan,""project," "estimate," "expect," "intend," "continue," "pro forma,""forecast," "outlook" or other similar expressions or the negative thereof.All statements other than statements of historical facts in this release orreferred to in this release are "forward-looking statements."These statements are based on current expectations, but are subject to certaininherent risks and uncertainties, many of which are difficult to predict andare beyond our control. Although we believe our expectations reflected inthese forward-looking statements are based on reasonable assumptions,stockholders are cautioned that no assurance can be given that ourexpectations will prove correct.Actual results and developments may differ materially from the expectationsexpressed in or implied by these statements, based on various factors,including the price per share of our common stock, the fact that managementmay not fully utilize the authorized repurchase amount due to marketconditions; applicable legal requirements, the effects of global economicconditions, including, particularly, continuation or worsening of the currenteconomic, currency and political conditions in South America and economicconditions in Europe, and their impact on our sales volumes and pricing of ourproducts, our ability to collect our receivables from customers and ourability to raise funds at reasonable rates; fluctuations in worldwide marketsfor corn and other commodities, and the associated risks of hedging againstsuch fluctuations; fluctuations in the markets and prices for our co-products,particularly corn oil; fluctuations in aggregate industry supply and marketdemand; the behavior of financial markets, including foreign currencyfluctuations and fluctuations in interest and exchange rates; continuedvolatility and turmoil in the capital markets; the commercial and consumercredit environment; general political, economic, business, market and weatherconditions in the various geographic regions and countries in which we buy ourraw materials or manufacture or sell our products; future financialperformance of major industries which we serve, including, without limitation,the food and beverage, pharmaceuticals, paper, corrugated, textile and brewingindustries; energy costs and availability, freight and shipping costs, andchanges in regulatory controls regarding quotas, tariffs, duties, taxes andincome tax rates; operating difficulties; availability of raw materials,including tapioca and the specific varieties of corn upon which our productsare based; energy issues in Pakistan; boiler reliability; our ability toeffectively integrate and operate acquired businesses; our ability to achievebudgets and to realize expected synergies; our ability to complete plannedmaintenance and investment projects successfully and on budget; labordisputes; genetic and biotechnology issues; changing consumption preferencesincluding those relating to high fructose corn syrup; increased competitiveand/or customer pressure in the corn-refining industry; and the outbreak orcontinuation of serious communicable disease or hostilities including acts ofterrorism.Our forward-looking statements speak only as of the date on which they aremade and we do not undertake any obligation to update any forward-lookingstatement to reflect events or circumstances after the date of the statementas a result of new information or future events or developments. If we doupdate or correct one or more of these statements, investors and others shouldnot conclude that we will make additional updates or corrections. For afurther description of these and other risks, see "Risk Factors" included inour Annual Report on Form 10-K for the year ended December 31, 2012 andsubsequent reports on Forms 10-Q and 8-K.