September 3, 2009 (FinancialWire) — Penford Corp. (NASDAQ: PENX) (Current Market Cap: $76.26 Mil.) said it has closed the sale of its former subsidiary company, Penford New Zealand Ltd.

Company CEO Tom Malkoski called the sale is “an important milestone” in Penford’s plan to proceed with the disposal of its Australia and New Zealand operations.

Centennial, Colorado-based Penford develops, manufactures and markets specialty, natural-based ingredient systems for industrial and food ingredient applications, including fuel ethanol.

Penford has eight manufacturing and/or research locations in the United States and Australia.

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