TORONTO, Dec. 10 /CNW/ - Management of Alliance Pulse Processors Inc.
("Alliance"), the operating subsidiary of Alliance Grain Traders Income Fund
(formerly Agtech Income Fund; TSX-V: AGT.UN) (the "Fund"), has reported a fire
and explosion at its Williston North Dakota facility (operating under the name
United Pulse Trading) on Saturday, December 8, 2007. Local inspectors have
been on the scene and early conclusions center around dust collection systems
in the plant. The plant has been shut down pending completion of the
investigation and repairs.
"Alliance management is here and working with the investigators to
conduct an investigation to determine the cause of this fire. Our team is also
on the ground in Williston working to get the plant back up and running with
normal production. We think this should take no more than 6 to 8 weeks", said
Murad Al-Katib, President and CEO of Alliance.
One staff member was injured in the incident and is receiving medical
attention. "Obviously our biggest concern now is for our staff, and doctors
have indicated a good prognosis and we anticipate his full recovery" said
Al-Katib. No other staff were injured in the occurrence.
Al-Katib added, "We do have all the proper insurance required for the
plant to cover any repairs as well as business interruption." Management is
confident that this incident will not affect fourth quarter distributions to
the Fund's unitholders or the operations of any of the other plants operated
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Murad Al-Katib, or Omer Al-Katib, Alliance
Pulse Processors Inc., (306) 525-4490