Ag Processing Inc., a cooperative, (AGP) announced plans to construct a new soybean processing facility. Several locations for the new facility are under consideration in both North and South Dakota, and negotiations are proceeding.
“We are pleased to announce our intention to move forward on a new soybean processing facility,” said Keith Spackler, chief executive officer. “We have extensively evaluated this opportunity and feel strongly that an investment in the Dakotas will complement existing business relationships, serve our large membership base, and benefit farmer-producers throughout the region. In addition, we believe the new soybean processing plant will generate economic development, jobs, and related benefits in the area.”
“The growth in soybean production in the western Corn Belt over the past 10 years created this business opportunity,” stated Brad Davis, chairman of the AGP board of directors. “AGP has many local cooperative members in the Dakotas, and the new facility will provide an improved market for soybean producers in the region. Our members have indicated strong support for this project.”
“Global demand for soybean meal continues to grow, specifically throughout the Pacific Rim, and the new facility will complement AGP’s export operations at the Port of Grays Harbor,” noted Cal Meyer, group vice president, processing, refining, and renewables. “We will also leverage our existing vegetable oil refining capacity in Iowa, Nebraska, and Missouri to further support the new processing capacity.”
Company officials noted that final construction decisions are contingent on negotiations with state and local officials regarding economic development, utility rates and services, and regulatory considerations. “We have a long and positive track record of working with local and state officials to execute projects that benefit AGP and the community interests,” said Meyer.
AGP is a leading agribusiness with primary operations as a major U.S. soybean processor/refiner producing and marketing soybean meal, refined soybean oil, and biodiesel. AGP businesses also include agricultural product trading in domestic and international markets, numerous U.S. grain elevator operations, and Masterfeeds, the leading animal nutrition company in Canada. AGP is owned by local and regional cooperatives representing farmer-producers across the United States. Corporate headquarters are located in Omaha, Neb.