The company makes popular brands including Knorr soups, Brown & Polson custard powder and Rex jelly brand.

CPC International Inc (US) holds 73.18 per cent of the issued, subcribed and paid-up equity capital in Corn Products Company (India) Ltd. The change in name that is sought to be effected by the company now, shadows international developments.

Earlier this year, the parent company changed its name to Bestfoods, following the sale of its corn-refining business.

The wheel comes a full circle as CPC International's predecessor company was also known as `The Bestfoods Inc'. CPC International's north-American business was known as `Bestfoods Company' for many years while in western United States and parts of Asia, the trademark `Bestfoods' is used for consumeritems.

For the year ended March 1998, Corn Products slipped into the red by posting a loss of Rs 1.30 crore compared with a net profit of Rs 0.72 crore in the previous year. With a view to becoming a market leader across its product range or at least a number two, the company has discontinued producing low-volume low-margin products.

In line with this, Corn Products closed down its jam manufacturing facilities at Dharwar in Karnataka.