Avignon, 24 January 2014 - Naturex, the global leader in speciality plant-based natural ingredients, announces the finalisation of US$11 million in financing for AKBM Manufacturing through the US federal NMTC (New Markets Tax Credit) program for its Houston, TX-based production site.
AKBM Manufacturing, a collaborative industrial venture
In February 2013, Naturex formed a joint venture with Aker BioMarine Antarctic, the world leader in krill harvesting and development of krill-dervied biotech products rich in phospholipid omega-3 fatty acids.
This new entity, Aker BioMarine Manufacturing LLC (AKBM Manufacturing) combines Aker BioMarine's know-how in sustainable krill sourcing with Naturex's extraction expertise.
The production site is based in Houston, TX, and is located on the site of a former ice cream production plant which has more than 145,000 square feet of manufacturing space. When it comes on line in June 2014 it will employ approximately 50 people. Further, the proximity of the Houston-Galveston port, the 2nd largest in the United States, will facilitate transport of Superba(TM) krill oil throughout the world in order to meet growing demand.
New Market Tax Credit equity financing for US$11 million
To finance this industrial project which involves installations within the existing site, AKBM Manufacturing applied for financing from the New Markets Tax Credit (NMTC) federal program established by the U.S. Congress in 2000 to promote investment and economic growth in low income communities based on certain qualifying criteria. The geographical situation of the AKBM Manufacturing plant allowed it to obtain financing for the project of US$11 million through this NMTC program from local investment funds (National New Markets Fund, Texas Mezzanine, Chase) with J.P Morgan Chase as lead manager.
This financing in the form of loans signed end of December 2013 is comprised of several tranches that includes a non-redeemable and forgivable tranche under certain conditions.
"The NMTC program represented a very good opportunity enabling us to obtain partial financing from high quality investors for a growth-generating industrial project within the framework of our joint venture with Aker BioMarine Antarctic", commented Naturex's CFO, Thierry Bertrand Lambert. "We are very proud to be able to contribute to this region's economic development by creating long-term industrial jobs and benefit from its ideal geographical position for developing the growth of our products in global markets."
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- Annual revenue 4 February 2014
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Naturex has been listed since October 1996 on NYSE Euronext in Paris, Segment B
|Total number of shares comprising the share capital: 7 843 251
NATUREX is a component of the CAC Small and Gaïa indexes.
Naturex is eligible for the "long only" Deferred Settlement Service (SRD).
Naturex established a Sponsored Level 1 American Depositary Receipt (ADR) program in the United States. Under this facility, Naturex's ADRs are traded over-the-counter in the United States under the symbol NTUXY.
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Naturex is the global leader in speciality plant-based natural ingredients. The Group is organised around three strategic markets (food & beverage, nutrition & health and personal care) and produces and markets speciality plant-based ingredients for the food, nutraceutical, pharmaceutical and cosmetic industries.
Naturex's head office is based in Avignon. The company employs more than 1,400 people with 8 sourcing offices located throughout the world and high-performance manufacturing operations across 15 sites in Europe, Morocco, the United States, Brazil, Australia and India. It also has a global commercial presence through a dedicated network of sales offices in more than 20 countries.
About SuperbaTM Krill
Superba(TM) Krill is a pure, natural source of the health-promoting EPA and DHA omega-3 fatty acids and the naturally occurring antioxidant astaxanthin. Superba(TM) Krill is unique in that the omega-3 fatty acids are provided in phospholipid form. In vitro, in vivo and human clinical research has demonstrated the safety and efficacy of Superba(TM) Krill.
About Aker BioMarine
Aker BioMarine is an integrated biotechnology company dedicated to the sustainable harvesting of krill and development of krill-derived biotech products. The company supplies biomarine ingredients through an optimized value chain. Aker BioMarine's Superba(TM) Krill products are provided with 100% traceability from sea to customer. Only Aker's krill fishery has been awarded Marine Stewardship Council (MSC) certification.
Chairman and Chief Executive Officer
Tel.: +33 (0)4 90 23 96 89
|Thierry Bertrand Lambert
Chief Financial Officer
Tel.: +33 (0)4 90 23 96 89
Tel.: +33 (0)4 90 23 78 28
Anne Catherine Bonjour
Actus Finance Press Relations
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