Solbar USA Completes Plant Acquisition

Solbar USA, Inc., a subsidiary of Solbar Industries Ltd., has completed the acquisition of South Sioux City, Nebraska-based Green Planet Farms plant for approximately $7.75 million. The plant, which has specialized in production of soy processing since being built in 2008, will help Solbar produce soy protein isolates in North America. Built in 2008 with the goal of creating an eco-friendly process to separate protein from oil without the use of chemicals, the plant features new assembly lines and modern equipment and technology to produce high-quality soy protein isolate. 

Shaul Shelach, president and CEO of Solbar, confirmed the purchase will significantly advance his companys U.S. manufacturing and sales capabilities. It will help the company leverage our leading technology and our innovative products for beverages and extruded protein snacks towards the large clients in the USA market, he said. The company keeps strengthening its competitiveness in the main target markets, USA and Asia, and enjoys growing demand for advanced soy products from the health and nutrition market as well as from the meat industry. He noted Solbar has high expectations from this acquisition and from deepening its penetration into the U.S. market and he is confident the companys sales will increase by tens of millions of dollars in the next few years.

 Solbar has committed significant resources to its U.S. operations. It has put together a new management and sales team in the country and has recently signed sales agreements with various large clients. Solbar will also examine plans to expand the factory, if necessary, understanding that this purchase will significantly increase our sales scopes in the US, our profitability and our financial robustness, Shelach added. Solbar continues its penetration into new markets in the health food market while expanding its activity portfolio to new and advanced applications of soy protein.