NutraCea buys rice bran oil processing facility in Brazil

by Eric Schroeder
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PHOENIX — NutraCea has acquired Irgovel, the largest rice bran oil processing facility in South America, for approximately $14 million. Located in Pelotas, Brazil, the 40-year-old facility has 70,000 ton capacity. According to NutraCea, the facility is only operating at about one-third its current capacity, and the company plans to invest $4 million to $6 million to refurbish, upgrade and install its proprietary equipment at the facility. The plant upgrades are expected to be completed by the end of 2008.

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