Penford Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of specialty natural-based ingredient systems for various industrial and food applications in the United States, Australia, and New Zealand. It develops and manufactures ingredients with starch as a base. The starch products are manufactured primarily from corn, potatoes, and wheat, and are used as binders and coatings in paper and food production. The various forms of starches include ethylated, oxidized, and cationic. The ethylated and oxidized starches are used in coatings and as binders, providing printability to fine white, magazine, and catalog paper. Cationic and other liquid starches are used in the paper forming process in paper production, providing bonding of paper fibers and other ingredients. Penford sells its products through a direct sales force, as well as through distributor agreements. The company was founded in 1894 and is headquartered in Centennial, Colorado.