Boston, MA 10/15/2014 (wallstreetpr) – RiceBran Technologies (NASDAQ:RIBT) announced the second expansion of its Irving, Texas plant yesterday.
A PRNewswire article pointed out the latest achievement of RiceBran Technologies (NASDAQ:RIBT) as it planned a further expansion of its Healthy Natural, Inc., the company’s plant based in Irving, Texas. The leading producer and marketer of rice bran products seeks to install capacity to enhance production of personal care and nutricosmetics products. The project will initiate as early as this quarter and will be finished by Q2, 2015 as expected.
Initial Expansion
RiceBran Technologies (NASDAQ:RIBT) had announced the completion of the first stage of expansion of the Healthy Natural plant in July 2014. With that expansion, it had increased its capacity to produce powdered beverage by more than twice. It expanded the facility’s manufacturing footprint to over 45,000 square feet while surging monthly production capacity to as much as four million gusseted bags and canisters. Apart from this, the expansion also allowed the company to increase production of powdered beverage bottles, fit for single serve, up to as much as three million.
Executive’s Comments
In this context, the contract manufacturing’s Senior Vice President, Mark McKnight, said that the initial expansion of the Irving, Texas facility has helped the company achieve significant milestones. The July expansion allowed RiceBran Technologies (NASDAQ:RIBT) to exploit the rapidly growing demand for its non-GMO and gluten-free, natural products. The success provides the company necessary strength to further seek the expansion. With further growth, it plans to increase focus on its nutricosmetic products. The sector is a new and rapidly developing area of the cosmetics industry and personal care market.
McKnight also claimed that RiceBran Technologies (NASDAQ:RIBT), which focuses on human food ingredient, along with animal nutrition, manufactures products that are highly rich in nutrients. The products have applications in a variety of markets dealing with different finished goods. The company is now determined to embark on these verticals and transform them into potential growth drivers in the future.
