EDMONTON, March 22 /CNW/ - Ceapro Inc. (CZO - TSX Venture) is pleased to
announce the relocation of its manufacturing plant to the new Agrivalue
Processing Business Incubator, four kilometers from Edmonton International
Airport, in Leduc, Alberta. This facility is a fully-serviced, registered
facility approved by the Canadian Food and Inspection Association (CFIA).
Ceapro will occupy a private 4,000 sq. ft. wet processing plant, with an
additional 2,000 sq. ft. of warehousing for the storage of raw materials.
"The expansion is essential to our growth strategy as we are operating at
capacity," stated Mark Redmond, President and CEO. "The increased product
supply will meet the growing demands for our active ingredients and the
additional capacity will allow us to expand our product range. This spring we
will launch two new extracts into the global markets with the introduction of
hydrolyzed oat protein and hydrolyzed lupine protein."
The Company estimates it will double capacity this year and cut
production times in half, with enhanced production efficiencies and margins.
Financing for the equipment needed for the expansion was approved in 2006
with a debt facility of up to $750,000 provided by Agriculture Financial
Services Corporation (AFSC). Equipment procurement will begin immediately with
expected full operational capability by mid-May 2007.
About Ceapro Inc.
Ceapro Inc is a Canadian growth-stage biotechnology company. Ceapro's
core technology is the extraction of functional, active ingredients from
plants and other renewable resources. We add further value to our extracts by
manufacturing medical and therapeutic products, and by supporting the use of
our extracts in products for human and animal health. We have also introduced
health and wellness services employing our CeaProve(R) diagnostic technology.
Our most recent initiative is the creation of Ceapro BioEnergy Inc. (CBE), a
wholly-owned subsidiary to utilize Ceapro's proprietary technology for the
production of ethanol and value-added products. Ceapro shares trade on the
Canadian TSX Venture Exchange under the symbol CZO. To learn more about
Ceapro, visit our website at www.ceapro.com.
For further information:
For further information: Dr. Mark Redmond, President and CEO, Ceapro
Inc., Telephone (Edmonton): (780) 421-4555; Nicole Blanchard, B.Sc., B.Comm.,
Managing Partner, Sun International Communications, Telephone (Montreal):