Core Iris acquires Food Extrusion Inc.SACRAMENTO, Calif.--(BUSINESS WIRE)--Dec. 7, 1995--Daniel L. McPeak, chairman and chief executive officer of Food Extrusion Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CRIS) signed an acquisition agreement whereby Core Iris Inc. has acquired 100 percent of Food Extrusion (FoodEx) in an exchange of common stock. The acquisition will allow FoodEx to increase its exposure into the financial marketplace and enable the company to meet growing global demand for stabilized rice bran (which holds 64 percent of the nutrients found in rice, making it one of the most nutritious nutritious /nu·tri·tious/ (noo-trish´us) affording nourishment. nu·tri·tious adj. Providing nourishment; nourishing. nutritious affording nourishment. yet wasted food sources in the world). Food Extrusion has developed the world's only process which successfully stabilizes rice bran, giving it a significant shelf life by halting halt·ing adj. 1. Hesitant or wavering: a halting voice. 2. Imperfect; defective: halting verse. 3. Limping; lame. the rapid growth of rancidity rancidity the state of being rancid. . The FoodEx system is being sought by nearly every rice producing country in efforts to feed starving starve v. starved, starv·ing, starves v.intr. 1. To suffer or die from extreme or prolonged lack of food. 2. Informal To be hungry. 3. To suffer from deprivation. populations. In addition to dramatically increasing the world's food supply, FoodEx's stabilized rice bran and derivative products have far reaching applications in the pharmaceutical, cosmetic nutriceutical and animal feed industries. Currently, Food Extrusion has production agreements with two of North America's large rice mills and plans major expansion of operations throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and abroad. The company currently distributes its products as a key ingredient to a number of health food producers as well as animal feed distributors. CONTACT: Food Extrusion Inc. Daniel McPeak, 916/933-3000 or Dorchester Group Inc. Robert H. Hesse, 212/406-7100 |
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