TORONTO -- Bio-Extraction Inc. (TSXV:BXI) a Toronto-based company that extracts oil and proteins from oilseeds, says it's building a new canola processing plant in Minot, N.D.
The plant will have the capacity to process 80,000 tonnes of canola a year, the company said Wednesday.
The company is already building a plant in Saskatoon but wants to expand into the U.S. and has signed a letter of intent with Minot for the new operation.
Construction is slated to begin next year with operation expected in 2011.
"Minot is an agriculture and business friendly community that has put tremendous effort into providing infrastructure that meets the requirements of companies looking for a new base of manufacturing operations," said Chris Carl, CEO of BioExx. "This allows us to meet our goal of expanding internationally and into a different growing region, while at the same time enjoying a reasonable proximity to our first plant location."
