REGINA – Alliance Grain Traders Inc. (TSX:AGT) announced Thursday that it is spending $12 million to acquire and develop a pulse storage and handling plant in North Dakota.
The specific purchase price for property, storage and related handling equipment in Minot, N.D., from C&C Foods Inc., Real Partner Investments LLC and MCL Ag Investments Partnership LLP was not disclosed.
However, the company said the planned build-out will include the installation of pulse processing equipment for beans, chickpeas, peas and lentils to augment Alliance’s processing capacity at its plant in Williston, N.D..
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The new facility will also add additional capacity for value-added pulses production of food ingredient pulses flours, proteins, starches and fibres.
Pulses and grains processing and handling equipment were included in the purchase and are in “ready for installation” condition, Alliance said in a release.
The site, originally constructed as a pulse processing facility, was never completed or commissioned by the previous owners.
“As with our other recent announcements, this facility is all about firming up our North American capacity and moving up the value chain with a focus on pulse ingredients and beans for the food sector,” said Alliance president and CEO Murad Al-Katib.
“This expansion into Minot brings our company a tremendous amount of opportunity not only due to the city’s strategic location within a strong production area for pulse crops, but also because Minot is an important regional transportation hub.”
Alliance is a pulse processor and exporter with offices in Canada, the United States, Turkey, Australia, China, the United Kingdom, the Netherlands and Spain.
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