Israeli soy protein company Solbar Industries has confirmed that it is expanding its activity to the US, and its share price reportedly soared in response.
The company, which makes soy protein and soy Isoflavone products, reported that its US unit Solbar USA had bought a plant, Green Planet Farms in South Sioux City, Nebraska, for US$5.5 million.
The deal includes a leasing agreement for the land on which the plant stands, and an option to buy it. The rent will be US$544, 000 annually plus interest.
Solbar said in its announcement that it intended ‘to produce at the plant the advanced products that it had lately produced for the US market, and at the same time to meet the developing demand for the proteins as the sole supplier of these products in the US.’
