Solbar acquires North American plant

Solbar Industries said its subsidiary, Solbar USA, Inc., has completed the acquisition of the Green Planet Farms plant to produce soy protein isolates in South Sioux City, Nebraska, USA, for approximately $7.75 million.

The Green Planet Farms plant, which specialized in production of soy processing, was built in 2008 and includes new assembly lines and modern equipment and technology to produce quality soy protein isolates.

The plant was built with the goal of using an eco-friendly process that separates protein from oil without the use of chemicals.

"We are very proud of this strategic move to purchase the factory to manufacture isolated soy protein in the USA," says Shaul Shelach, president and CEO.

"It will help the company leverage our leading technology and our innovative products for beverages and extruded protein snacks towards the large clients in the USA market."

"The company keeps strengthening its competitiveness in the main target markets, the US and Asia, and enjoys growing demand for advanced soy products from the health and nutrition market as well as from the meat industry."

Solbar, a public company, traded on the Tel Aviv Exchange, has manufacturing sites in Israel and China.