NutraCea Signs Rice Bran Agreement With Texas Best Organics
The organic raw rice bran will be processed through NutraCea's proprietary Stabilization System to produce Stabilized Organic Rice Bran and other value added products for both the human and animal nutrition markets.
28/06/06 NutraCea (OTC Bulletin Board: NTRZ), a leader in stabilized rice bran technology, announced today that NutraCea and Texas Best Organics (TBO) entered into an organic rice bran supply agreement which will enable NutraCea to produce a stabilized organic rice bran.
Under the terms of the agreement, Texas Best Organics will supply organic raw rice bran from its rice milling operations to NutraCea. The organic raw rice bran will be processed through NutraCea's proprietary Stabilization System to produce Stabilized Organic Rice Bran and other value added products for both the human and animal nutrition markets.
TBO, through its relationships with organic rice producers in Texas, acquires only the highest grade organic rice for its milling purposes. NutraCea will stabilize the raw, organic rice bran from TBO's state of the art organic rice mill in Nome, Texas insuring the highest quality of organic rice bran possible. TBO's rice mills are located in Nome and China, Texas.
Cecil Slack, President of TBO, stated, "We look forward to the opportunity of supplying our organic rice bran to NutraCea. The organic rice bran supply agreement will provide an opportunity for TBO to improve its competitive position in the U.S., as well as unlock a new revenue stream for the company. NutraCea's commitment to purchase their initial needs of organic stabilized rice bran from TBO demonstrates a strong belief in Texas organic rice farmers and millers to bring value added products to NutraCea's customers."
Ike Lynch, Chief Operating Officer of NutraCea, said, "A rice bran supply agreement with TBO is a strategic move for our Company. Many of our food ingredient customers have requested organic stabilized rice bran products and this agreement allows NutraCea the ability to serve those customers." Mr. Lynch continued, "We believe that TBO is on the leading edge of supplying organic rice to customers that understand the value of organically farmed and produced rice products. We look forward to a long, rewarding business relationship that improves TBO's margins while simultaneously enhancing our ability to serve our customers, as well as attract new ones."
