MGP to Build New $16.7 Million Extrusion Plant Inside Recently Acquired Production Facility
Design of the
"Achieving in-house production of our ProTerra line of products is a meaningful investment amid growing demand and increasing outsourcing costs," said MGP CEO
The new plant will help the company meet the growing demand for its ProTerra product line, while giving it more control over the manufacturing process. MGP currently utilizes co-packers to produce its ProTerra line.
"Building this new extrusion plant gives MGP the capacity and flexibility required to continue to meet the growing demand for our ProTerra line of texturized proteins," said
As one of the largest distillers in the
MGP's branded spirits portfolio covers a wide spectrum of brands in every segment, including iconic brands from
In addition, our Ingredient Solutions segment offers specialty proteins and starches that help customers harness the power of plants and provide a host of functional, nutritional and sensory benefits for a wide range of food products.
The transformation of American grain into something more is in the soul of our people, products, and history. We're devoted to unlocking the creative potential of this extraordinary resource. For more information, visit mgpingredients.com.
Cautionary Note Regarding Forward-Looking Statements
The forward-looking statements contained herein include, but are not limited to, statements about the Company's planned construction of an extrusion plant. Forward-looking statements are usually identified by or are associated with such words as "intend," "plan," "believe," "estimate," "expect," "anticipate," "hopeful," "should," "may," "will," "could," "encouraged," "opportunities," "potential," and/or the negatives or variations of these terms or similar terminology.
These forward-looking statements reflect management's current beliefs and estimates of future economic circumstances, industry conditions, Company performance, and Company financial results and financial condition and are not guarantees of future performance. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. For further information on these and other risks and uncertainties that may affect our business, see Item 1A. Risk Factors of our Quarterly Report on Form 10-Q for the quarter ended
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