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Eridania Beghin-Say SA

American Maize-Products Co. manufactures and sells products derived from corn wet milling, such as corn sweeteners and starches for use in the manufacturing processes of several industries. In the wet-milling process the starch component is either dried for sale or processed further into other products. These include high-fructose corn syrup, which is widely used as a sweetener in the soft-drink industry. In the mid 1990s Amer...

American Maize-Products Co. manufactures and sells products derived from corn wet milling, such as corn sweeteners and starches for use in the manufacturing processes of several industries. In the wet-milling process the starch component is either dried for sale or processed further into other products. These include high-fructose corn syrup, which is widely used as a sweetener in the soft-drink industry. In the mid 1990s American Maize was the only producer in North America and the largest producer in the world of cyclodextrins, doughnut-shaped molecular structures produced from starch that had many applications. American Maize was acquired in 1995 by a French company, Eridania Beghin-Say, S.A., a unit of Montedison SpA and the largest starch producer in Europe. Eridania then announced it would sell 88 percent of American Maize's tobacco-products subsidiary, Swisher International, Inc. American Maize originated as Western Glucose Co. in Hammond, Indiana, and was incorporated in Maine in August 1906. It produced two items: corn starch and corn syrup. William Ziegler acquired control of the company in 1907. Royal Baking Powder Co. purchased a majority of the capital stock of Western Glucose in January 1908 and changed its name to American Maize-Products two months later. Royal Baking Powder sold its holdings in American Maize to its stockholders of record on October 11, 1928. In July 1995, American Maize-Products Co. entered into a definitive merger agreement with Eridania Beghin-Say, S.A. (EBS), pursuant to which the company would by acquired by EBS. As of December 31, 1995, American Maize-Products Co. was engaged primarily in the manufacture and sale of products derived from corn wet milling, such as corn sweeteners and starches, for use in the manufacturing processes of several industries. It also manufactured and marketed cigars and smokeless tobacco products.