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CORAL SPRINGS, Florida, February 5, 2014 /PRNewswire/ --
Market news and updates for high volume stocks; company announces update on expansion project: RiceBran Technologies (NASDAQ: RIBT), Altria Group Inc. (NYSE: MO), Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR), Starbucks Corporation (NASDAQ: SBUX) and Myriad Genetics Inc. (NASDAQ: MYGN)
RiceBran Technologies (NASDAQ: RIBT) Sees 50% Increase in Capacity Boosting Sales and Margin in Second Half of 2014. RiceBran, a global leader in the production and marketing of value added products derived from rice bran, today provided an update on the plant expansion projects underway at its Pelotas, Brazil-based rice bran oil bio-refining subsidiary Irgovel - Industria Riograndense de Oleos Vegetais Ltda. As previously announced, RiceBran Technologies intended to direct a significant portion of the proceeds of its recent equity raise to increase capital at Irgovel. That additional funding is being used to complete the final phase of a series of projects aimed at updating and expanding all aspects of its rice bran bio-refining facility including an increase in raw rice bran (RRB) processing capacity at Irgovel from 6,000 metric tons per month to more than 9,000 metric tons per month. The series of related expansion and plant upgrade projects described by management as the Phase 1 Projects was necessitated by growing global demand for rice bran oil due to its known health benefits and attractive functional characteristics such as a high smoke point in frying.
To read the full press release go to http://www.fnmprofiles.com/profiles-ribt.html
The final and most important part of the Phase 1 Projects is the upgrading and expansion of the crude oil extraction plant, responsible for extracting crude rice bran oil from the RRB prior to refining, along with installation of a state-of-the-art desolventizer/toaster (DT), condensors and related equipment. Irgovel halted operations on January 16, 2014 to complete this final phase and expects to be fully operational with the increased capacity in place before the end March. Orders for increased rice bran oil production expected from the additional capacity have already begun to be placed. Management expects strong demand for its rice bran oil to continue going forward.
Altria Group Inc. (NYSE: MO) recently announced that its subsidiary, Nu Mark LLC (Nu Mark), entered into an agreement to acquire the e-vapor business of Green Smoke, Inc. and its affiliates (Green Smoke) for approximately $110 million in cash, subject to closing adjustments, and up to $20 million in incentive payments. "Nu Mark's entry into the e-vapor category with its MarkTen product was an important development in Altria's innovation strategy. Adding Green Smoke's significant e-vapor expertise and experience, along with its supply chain, product lines and customer service, will complement Nu Mark's capabilities and enhance its competitive position," said Marty Barrington, Altria's Chairman and CEO. "Further, Green Smoke's culture of innovation and history of producing high-quality products are consistent with Altria's culture."
Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) a leader in specialty coffee and beverages with its innovative Keurig® brewing technology, recently detailed its new K-Carafe™ capability for its Keurig® 2.0 Brewing System, available for sale in Fall 2014. Keurig® 2.0 brewers will be the first system to brew both one cup using a single serve pack and a carafe of coffee using the new Keurig® K-Carafe™ pack. "Both current Keurig brewer owners and non-owners told us the brewer functionality they wanted most was the ability to brew both a single serving and a pot of coffee from one system with Keurig speed, convenience and brand choice. Our next generation Keurig 2.0 brewers will do just that," said Brian P. Kelley, President and CEO of GMCR.
Starbucks Corporation (NASDAQ: SBUX) has announced a new leadership structure that positions the company to leverage its assets and operations, and gain maximum benefit from the retail, consumer, mobile and digital shifts currently underway in the global marketplace. The company will host a conference call with the financial community to discuss the changes at 2:00 p.m. Pacific Time this afternoon. "These organizational moves map our internal talent to the rapidly evolving retail environment and significant strategic and market opportunities ahead of us," said Howard Schultz, Starbucks chairman, president and ceo.
Myriad Genetics Inc. (NASDAQ: MYGN) announced recently that it has entered into a definitive agreement to acquire Crescendo Bioscience, Inc., a global leader in autoimmune diagnostics, for $270 million in cash which will be reduced by $25 million for the repayment of a loan made to Crescendo and customary adjustments in accordance with the acquisition agreement. The transaction is expected to close before the end of Myriad's fiscal year 2014, pending satisfactory completion of customary closing items and regulatory approval.
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