Penford Selling New Zealand Subsidiary

CENTENNIAL, Colo. (AP) -- Penford Corp., a specialty ingredients maker, says it has reached a deal to sell a New Zealand subsidiary to a private investment firm.

The company did not reveal the name of the investment firm or any financial details of the arrangement, announced late Thursday.

It expects the to close the sale of Penford New Zealand Ltd. in early September.

Shares of Penford rose 10 cents to $7.04 in afternoon trading Friday.

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