Firm Plans to Double Mill Capability, With Minimal Enhance in Labor and a Minimal Capital Funding to Broaden Functionality to Ship Domestically Sourced Elements
TOMBALL, TX / ACCESSWIRE / Could 18, 2022 / RiceBran Applied sciences (NASDAQ:RIBT) (the “Firm”) a world chief within the growth and manufacture of dietary and purposeful elements derived from rice and different small and historical grains for human meals, nutraceutical, pet care and equine feed purposes, at this time introduced the initiation of a major capability growth of the Firm’s MGI Grain Integrated (“MGI”) facility in East Grand Forks, Minnesota. The growth is predicted to double the capability of the pearling mill, enabling RiceBran to satisfy rising demand for North American-sourced, grain-based elements and with a minimal capital funding and a restricted enhance in labor.
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The venture will substitute one of many mill’s important grain de-hullers with a brand new de-huller/pearler; greater than doubling the plant’s manufacturing capability. Along with the brand new huller, MGI will assist elevated throughput and high quality with the addition of a colour sorter, in addition to enhancements to the mill’s grain receiving, cleansing and conveyance methods. The venture, which is being executed by a trusted contractor and RiceBran’s personal inner engineering crew, is deployed in a fashion that minimizes disruption to the mill’s every day operations. The investments, which totaled lower than half-a-million {dollars}, are anticipated to be accomplished in mid-summer 2022.
“These upgrades will permit RiceBran to lastly leverage MGI’s true potential increasing quantity and course of flexibility whereas enhancing product high quality,” mentioned MGI enterprise lead Kevin Pray. “It will permit us to double the capability of the pearling mill throughout the similar constructing footprint, giving us the flexibility to satisfy rising buyer calls for whereas navigating a good labor market, with solely a modest capital funding.”
“The demand for regionally-sourced elements and agricultural merchandise is hovering given the uncertainty of the geopolitical surroundings and challenges within the world provide chain, and we’re capable of reply,” mentioned RiceBran Chairman Peter Bradley. “Not solely does MGI present RiceBran with strategic choices within the long-term as a supply of latest feedstocks for our excessive worth ingredient enterprise, this small funding in vital incremental capability supplies us with a singular alternative to capitalize on the present macro-environment.”
About RiceBran Applied sciences
RiceBran Applied sciences is a specialty ingredient firm centered on the event, manufacturing, and advertising of merchandise derived from conventional and historical small grains. Notably, we’re world chief within the manufacturing and advertising of stabilized rice bran (SRB), and excessive value-added by-product merchandise derived from SRB, in addition to a processor of rice, rice co-products, and barley and oat merchandise. We create and produce merchandise using proprietary processes to ship improved vitamin, ease of use, and prolonged shelf-life, whereas addressing client demand for all pure, non-GMO and natural merchandise. The goal markets for our merchandise embrace meals and animal vitamin producers and retailers, in addition to specialty meals, purposeful meals and dietary complement producers and retailers, each domestically and internationally. Extra info may be discovered within the Firm’s filings with the SEC and by visiting our web site at http://www.ricebrantech.com.
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Ahead-Wanting Statements
This launch comprises forward-looking statements, together with, however not restricted to, statements about RiceBran’s expectations relating to its future monetary outcomes, gross sales development, Adjusted EBITDA (non-GAAP) enhancements, and SG&A. These statements are made based mostly upon present expectations which can be topic to recognized and unknown dangers and uncertainties, together with the dangers that operations are disrupted by the COVID-19 pandemic and timing of worthwhile operations. RiceBran Applied sciences doesn’t undertake to replace forward-looking statements on this information launch to mirror precise outcomes, adjustments in assumptions or adjustments in different elements affecting such forward-looking info. Assumptions and different info that might trigger outcomes to vary from these set forth within the forward-looking info may be present in RiceBran Applied sciences’ filings with the Securities and Trade Fee, together with its most up-to-date periodic stories.
SOURCE: RiceBran Applied sciences
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