Legumex Walker Subsidiary Pacific Coast Canola to Begin Processing Nexera Canola in WA
Date Posted: April 8, 2014
Winnipeg—Legumex Walker Inc. (TSX: LWP) (the "Company") April 8 announced that its Pacific Coast Canola ("PCC") subsidiary has entered into an agreement with Dow AgroSciences Canada Inc. ("Dow AgroSciences") under which it has been granted a license to process NexeraTM canola and produce and sell Omega-9 Quality Canola Oil at its facility in Warden, Washington.
NexeraTM canola is used in the production of heart-healthy Omega-9 Quality Canola Oil, a next generation canola oil that is in increasingly high demand by food processors for its health and stability attributes.
"The ability to produce Omega-9 Quality Oil from NexeraTM canola expands our canola offerings and satisfies a growing demand for this product from our food processing customers," said Joel Horn, President and Chief Executive Officer, Legumex Walker Inc., which owns 84% of Pacific Coast Canola.
"PCC's strategy is to expand its margin potential beyond the benefit of sourcing feedstock locally by focusing on new canola products such as Omega-9 Oils, which command premiums in the marketplace."
"Partnering with Dow AgroSciences allows us to bring the benefits of NexeraTM canola to growers in the Pacific Northwest," said Matt Upmeyer, Chief Operations Officer, Pacific Coast Canola.
"Growing commodity canola has great agronomic benefits and growing NexeraTM canola takes that to another level, providing greater potential profitability through higher yields and pricing premiums.
"Dow AgroSciences provides exceptional support to NexeraTM growers and we look forward to working with them to maximize the economics for growers in the Pacific Northwest region."
Under the terms of the agreement, Dow AgroSciences, which developed and owns the rights to NexeraTM canola seed, has granted PCC a license to purchase, handle, crush and process NexeraTM canola, as well as process and sell Omega-9 Quality Oil produced from NexeraTM canola.
Dow AgroSciences will provide NexeraTM seed to canola growers under contract with PCC to deliver canola feedstock to PCC's Warden, Washington facility for processing.
In addition, Dow AgroSciences will work jointly with PCC to develop programs for the marketing of NexeraTM canola seed to growers, as well as to develop programs that will market Omega-9 Quality Canola Oil to potential buyers.
"We are proud to partner with Pacific Coast Canola to expand the availability of our heart-healthy Omega-9 Canola Oil to food processors, while providing canola growers in the Pacific Northwest with a new, high-yielding, premium-commanding crop alternative," said David Dzisiak, Commercial Grains & Oils, Dow AgroSciences.
"Consumer demand for Omega-9 Oil is at an all-time high and Omega-9 Oil is the new standard in today's food industry."
For more information, call 206-535-2427.