EL DORADO HILLS, Calif., March 14, 2007 /PRNewswire-FirstCall via COMTEX/ -- NutraCea (NTRZ) announced the opening of its new rice bran stabilization facility at the Louisiana Rice Mill (LRM) in Mermentau, Louisiana and will begin commissioning the plant the week of March 23rd. The first shipments of stabilized rice bran from this plant to customers will commence in April 2007 and the facility is anticipated to be running at full capacity by the end of April.
LRM will supply raw rice bran from its rice milling operations to NutraCea, which will then be processed by its proprietary technology to produce stabilized rice bran and other value added-products. The production from this plant will supply customers for both the human and animal nutrition markets. LRM is expected to provide 30,000 tons annually of rice bran for the new facility, bringing NutraCea's total annual capacity of stabilized rice bran to approximately 40,000 tons.
NutraCea is planning a Grand Opening of the new facility to the public in May. Full details about the Grand Opening will be released beforehand.
Mr. Brad Edson, CEO of NutraCea, stated, "This is an important step, which coincides with NutraCea's plan to significantly expand production capacity to satisfy a demand that we believe is orders of magnitude larger than our present ability to produce stabilized rice bran. The state-of-the-art Mermentau facility, together with an additional Louisiana facility that we anticipate will come on line before year end, will enable us to satisfy the sales commitments that we have made to customers and sets the stage for further strategic growth as demand and economics dictate."
"We are very grateful for the invaluable assistance of LRM and its management in bringing this new facility to fruition. Located in a major rice growing region and close to the ports of Lake Charles, Houston and New Orleans, this facility will allow NutraCea to readily ship our stabilized rice bran throughout the U.S. and elsewhere to satisfy the requirements of our customers," noted Ike Lynch, COO of NutraCea.
About Louisiana Rice Mill
Louisiana Rice Mill, LLC is committed to delivering the highest quality US rice products for both export and domestic use. Through its relationship with producers, LRM acquires only the highest grade US rough rice for its milling purposes. LRM's mill is located in the heart of the Southwest Louisiana Rice Belt in Mermentau, Louisiana. Southwest Louisiana is home to nearly 500,000 acres of prime rice producing land and boasts many of the best rice farmers in the US. With easy access to the ports of Lake Charles, Houston and New Orleans, LRM is a premier exporter for US Long Grain rice on the Gulf Coast. LRM provides Hard Milled US Long Grain No. 2 Rice for shipment around the world and for domestic private label business. LRM's administrative office are located a short drive away from the mill in Crowley, Louisiana, also known as the "Rice Capital." Additionally, LRM has receiving, shipping and storage facilities in Eunice, Louisiana.
NutraCea is a leader in stabilized rice bran nutrient research and dietary supplement development. Through it's wholly owned subsidiary RiceX, the company manufacturers as well as distributes products and food ingredients made from Rice Bran through its proprietary technology and processes. The Company has developed intellectual properties to create a range of proprietary product formulations, delivery systems and whole food nutrition products. NutraCea's proprietary technology enables the creation of food and nutrition products from rice bran, normally a wasted by-product of standard rice processing. In addition to its whole foods products, NutraCea develops families of health-promoting "nutraceuticals," including natural arthritic relief and cholesterol-lowering products. More information can be found in the company's filings with the SEC and you can visit the NutraCea web site http://www.NutraCea.com .
Forward Looking Statements
This release contains forward-looking statements. Actual results may differ from those projected due to a number of risks and uncertainties, including, but not limited to the possibility (i) that demand for the Company's products may be less than anticipated, (ii) of unanticipated delays in the scheduled completion dates, and (iii) the matters specified in the Company's filings with the Securities and Exchange Commission. These statements are made based upon current expectations that are subject to risk and uncertainty. The Company does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information. Assumptions and other information that could cause results to differ from those set forth in the forward-looking information can be found in the Company's filings with the Securities and Exchange Commission, including the company's most recent periodic report.