Categories: PR Newswire

RiceBran Technologies Completes Debottlenecking Projects at Golden Ridge Rice Mills

THE WOODLANDS, Texas, Oct. 3, 2019 /PRNewswire/ — RiceBran Technologies (NASDAQ: RIBT), a global leader in the production and marketing of value-added products derived from rice bran, and a producer of rice, rice co-product, and barley and oat products, announced today that the Company has reached a significant milestone in debottlenecking its Golden Ridge Rice Mills operation in Arkansas (“Golden Ridge”).

In late September, the Company completed the installation of certain new processing, milling, and grading equipment designed to achieve a significant increase milling volume per hour while producing a higher yield of more valuable milled products. This is expected to result in a substantial increase in revenue, better absorption of fixed costs, and higher margins. The Company also expects to achieve further improvement in milling capacity with the installation of two additional pieces of production equipment slated for October.

“We are pleased with the progress made since we reinitiated operations on Thursday, September 26 after the two week installation process for this new equipment,” said Brent R. Rystrom, President and CEO of RiceBran Technologies. “While we are still early in our operational ramp, our production volumes are up multi-fold from where we have been the last several months, quality is much improved, and we are experiencing a sharp enhancement in our product grading capabilities. All of this should lead to significantly higher sales, better cost absorption, as well as much improved margins and EBITDA at both Golden Ridge and RiceBran Technologies.” 

About RiceBran Technologies

RiceBran Technologies is a specialty ingredient company servicing the food, animal nutrition and specialty products markets. We utilize our proprietary processes to convert rice bran, one of the world’s most underutilized food source, into a number of highly nutritious and clean label ingredient products. The global target markets for our products include food and animal nutrition manufacturers and retailers, as well as specialty food, functional food and nutritional supplement manufacturers and retailers. More information can be found in our filings with the SEC and by visiting our website.

Forward-Looking Statements

This release contains forward-looking statements, including, but not limited to, statements about RiceBran Technologies’ expectations regarding increases in revenue, better absorption of fixed costs, higher margins, and future improvements in milling capacity at Golden Ridge. RiceBran Technologies 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 RiceBran Technologies’ filings with the Securities and Exchange Commission, including its most recent periodic reports.

Investor Contact
Richard Galterio
Ascendant Partners, LLC
(732)410-9810 
rich@ascendantpartnersllc.com

SOURCE RiceBran Technologies

IR Press

Share
Published by
IR Press

Recent Posts

Treasury Issues Final Rule Expanding CFIUS Coverage of Real Estate Transactions Around More Than 60 Military Installations

WASHINGTON – Today, the U.S. Department of the Treasury (Treasury), as Chair of the Committee…

4 days ago

U.S. Department of the Treasury’s CDFI Fund and Federal Housing Finance Agency Collaborate to Bolster CDFI Access to Capital

WASHINGTON—Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) and…

4 days ago

Report on U.S. Portfolio Holdings of Foreign Securities at Year-End 2023

Washington – The findings from the annual survey of U.S. portfolio holdings of foreign securities…

5 days ago

READOUT: U.S. Department of the Treasury Hosts Roundtable Discussion on the Financial Sector’s Response to Recent Hurricanes

WASHINGTON – The U.S. Department of the Treasury hosted a roundtable on October 30 with…

5 days ago

READOUT: Sixth Meeting of the Financial Working Group Between the United States and the People’s Republic of China

WASHINGTON – The United States and the People’s Republic of China held the sixth meeting…

5 days ago

Treasury Sanctions Key Members of La Linea, a Group Involved in Trafficking Fentanyl into the United States

WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned…

5 days ago