Today, Carbonics Capital Corp. announced that Great Plains Oil & Exploration, LLC will lease the company’s oilseed crush plant in Culbertson, Montana. Great Plains will use the facility in further development of their oilseed production program. The announcement follows the execution of an agreement between the companies.
Culbertson consists of oilseed handling, storage and processing infrastructure, including mechanical crush and vegetable oil refining equipment. It has over two million gallons of crude vegetable oil storage, over one million bushels of oilseed storage, and over four thousand tons of meal storage. Additional infrastructure includes a rail siding, truck and rail scales, and major U.S. highway frontage.
The lease presents a lucrative opportunity for Carbonics to expand its business enterprise. In 2008, Culbertson was unable to renew its working capital line of credit, and was therefore unable to complete its purchase of delivered oilseed inventory. After several months of difficult work, and the tremendous efforts of Montana and North Dakota regulatory officials, Carbonics reported its complete liquidation in October 2009. Presently, with this lease agreement, activity occurring at the facility is an effort to resume and revive operations.
Dr. Paul Miller, Carbonics’ president and CEO, stated, “Activity at Culbertson is very important right now. A completely shut facility is not an ideal situation and this lease keeps personnel on sight, augers conveying, and trucks rolling. We are delighted that Great Plains shares our belief in the value of Culbertson, the region and the opportunities for oilseed production and processing.”
Sam Huttenbauer, CEO of Great Plains Oil, added, “We are delighted to be able to add the Culbertson facility to our growing list of camelina storage and processing facilities. This will provide an important central hub for our camelina growers in eastern Montana and western North Dakota.”
About QualityStocks:
QualityStocks’ Small Cap Stock Newsletter is a free service that collects data from hundreds of Small-Cap online Investment Newsletters into one free Daily Newsletter Report.
Sign up for “The QualityStocks Daily Newsletter” please visit www.QualityStocks.net
The Quality Stocks Daily Stock Report http://video.qualitystocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks “Ones to Watch” http://Gotstocks.QualityStocks.net
Please see disclaimer on QualityStocks website: http://disclaimer.qualitystocks.net
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment