Photo credit: AGP
Omaha, NE — Ag Processing Inc. a cooperative (AGP) will make a significant investment to expand the crush capacity of its soybean processing facility in Sergeant Bluff, Iowa, the company said in a news release Friday, Nov. 19.
Chairman of the Board Lowell Wilson said, “The project is aligned with our strategic plan of continued growth of our core soybean processing business to better serve the cooperative system and our rural communities.
"We would like to thank The Siouxland Initiative, Woodbury County and the Iowa Economic Development Authority for their support of this project.”
Based in Omaha, NE, AGP is owned by more 150 local and regional cooperatives throughout the Midwest, representing over 200,000 farmers.
AGP operates 10 soybean processing plants in Iowa, Minnesota, Missouri, Nebraska, and South Dakota, as well as four soybean oil refineries, and three biodiesel production facilities. The cooperative built the first commercial-scale U.S. soy biodiesel plant in 1996 in Sergeant Bluff.
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“We have carefully evaluated this opportunity and are confident that this investment will generate strong returns for our membership and benefit farmer-producers throughout the region," CEO Chris Schaffer said.
"Domestic and global demand for soybean meal and soybean oil continues to grow. In addition, we believe the expanded soybean processing plant will generate economic benefits for the Sergeant Bluff area,” Schaffer added.
Said Chief Marketing Officer Mark Sandeen:“The availability and quality of the soybeans in the Sergeant Bluff area make it an excellent location to expand our crush capacity.
"AGP continues to invest in areas that enhance our competitiveness. Our Sergeant Bluff facility has performed very well over the years, and we have a strong connection to the community.
"We have a great team in place to support the expanded operations, and we are excited to move forward with this project to return value to our members and their farmer-owners.”
Company officials noted that final construction decisions are contingent on negotiations with state and local officials regarding economic development, utility rates and services, and regulatory considerations.
“We are committed to working with local and state officials to develop and invest in projects that benefit AGP and the surrounding communities,” Sandeen said.
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