NutraCea (NTRZ.OB) Completed the Purchase of Irgovel, the Largest Rice Bran Oil Processing Plant in South America
NutraCea is a world leader in stabilized rice bran or SRB, technology and nutrient research, announced on Friday, Feb. 22 that it has completed the purchased the 70,000 ton annual capacity facility located in Pelotas, Brazil for approximately $14 million and with the opportunity to sell rice bran oil in addition to other patented stabilized rice bran and stage two secondary products into the Brazilian and global marketplace. On February 4th, NutraCea announced its intent to purchase the facility, subject to closing conditions, which have now been fulfilled. While spending $14,080,000 for outstanding equity interests in Irgovel, they, in addition…