Alliance Grain Traders Income Fund Has New Chairman
TORONTO, March 5 /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"), is pleased to
announce that its processing factory in Williston, North Dakota (operating
under the name United Pulse Trading) is fully operational after extensive
repairs following a fire on Saturday, December 8, 2007. Re-commissioning of
the plant began in early February after key pieces of machinery and the
building's roof were replaced.
"To come to full production in less than three months after this mishap
is a real achievement and a credit to our plant staff and technicians. We
actually ran through the first product eight weeks after the fire. We are now
complete on construction and all contracts that were scheduled for delivery in
late December and January have been shipped. I am proud of our team," said
Murad Al-Katib, President and CEO of Alliance and a Trustee of the Fund.
The one staff member who was injured in the incident is back at work and
fully recovered. Al-Katib added, "We are grateful to the support we received
from our insurer Nationwide Agribusiness for their coverage of our property
losses and business interruption."
Management is confident that this incident will not affect first quarter
distributions to the Fund's unitholders or the operations of any of the other
plants operated by Alliance.
The Fund also announced that Murad Al-Katib assumed the position of
Chairman of the Board of Trustees of the Fund effective February 1, 2008.
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, Alliance Pulse Processors Inc.,
Tel: (306) 525-4490, Email: email@example.com