SunOpta Announces JV for Refining Organic and Natural Vegetable Oils
Posted on: Wednesday, 12 March 2008, 09:00 CDT
SunOpta has entered into an agreement to establish a joint venture with Colorado Mills to build and operate an organic and natural vegetable oil refining facility.
The venture will be operated as Colorado Sun Oil Processing and will be owned 50% by SunOpta and 50% by Colorado Mills.
According to the company, the processing facility will be located in Lamar, Colorado, adjacent to Colorado Mills's existing crude oil processing facility. It will be capable of refining approximately 35 million pounds annually of natural and organic sunflower, soybean and canola oils. The refining facility is expected to be operational late in 2008.
Allan Routh, president of the SunOpta Grains and Foods Group, said: "Joining forces with Colorado Mills to operate this joint venture will position SunOpta to continue to meet increased demand and cost-effectively grow our healthy oils business."
Source: Datamonitor
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