Penford Products Co. and BCTGM Agree to Contract Extension

  
    
  
  
    
      BCTGM Local 100 members at Penford Products Co. have ratified a three 
      year contract extension that will extend their current agreement to 
      August 1, 2012. The current agreement is in place until August 1, 2009. 
      Approximately 150 union workers are covered by the agreement. The 
      provisions of the contract are similar to the current agreement.
    
    
      “We are pleased that we have reached agreement 
      with the Union on a contract extension with mutually beneficial terms 
      and conditions. The ratification of the proposal reflects a desire by 
      all employees to build a stronger future for the Industrial business and 
      reinforce the sustainability of the Cedar Rapids facility”, 
      stated Tim Kortemeyer, Penford Products Co. President and General 
      Manager.
    
    
      Penford previously announced plans to expand the capacity of the Cedar 
      Rapids plant, concurrent with the construction of the new ethanol 
      facility, scheduled for start-up at the end of this calendar year. The 
      Company also commissioned two new boilers at the site last December.
    
    
      About Penford Corporation
    
    
      Penford Corporation (Nasdaq: PENX) develops, manufactures and markets 
      specialty natural-based ingredient systems for various applications, 
      including papermaking, textiles and food products. Penford has nine 
      locations in the United States, Australia and New Zealand. The Cedar 
      Rapids site is Penford’s largest manufacturing 
      plant.