AGP Makes Capital Investments of Over $65 Million in Fiscal 2013
Date Posted: November 12, 2013
This article is reprinted by permission from the AGP News, Issue #4, 2013.
AGP continued its strategy of investing for the future with capital expenditures of over $65 million in fiscal 2013.
In addition to the AminoPlus® expansion project underway at Dawson, Minnesota, key projects and expenditures included:
• Major plant upgrade at AGP’s soybean processing plant in Eagle Grove, Iowa.
The project included two new extractors, two new desolventizing toasters (DTs) and a new motor control center.
The project was completed in time for the fall soybean harvest.
• Completion of a new degumming facility at St. Joseph, Missouri.
Degumming is an integral step in the refining of crude soybean oil.
Food grade soybean lecithin, a value-added product utilized in baking, chocolates, candies and many other uses is produced in the degumming process.
• A new partnership with Vantage Oleochemicals based in Chicago, Illinois.
Vantage Oleochemicals operates a plant which refines crude kosher glycerin (a co-product of methyl ester production) supplied by AGP’s biodiesel plants into value-added products used in the pharmaceutical industry, pet foods, tobacco and plastics among other uses.
• An upgrade to AGP’s soy biodiesel plant in Algona, Iowa, with expanded reactor and decanter capacity.
Additionally, several important projects were underway or completed at AGP facilities including rail improvements, equipment upgrades, enhancements to computer networks, and electrical upgrades.
The objectives of these projects are to improve efficiencies, increase capacity and enhance customer service as AGP continues to expand its reach into domestic and global markets.