Fytokem’s third-quarter results show the Saskatoon-based company has improved sales of its products made from plant extracts.
Over nine months, Fytokem sales have grown to almost $100,000, up from less than $6,000 in the same period last year, says a company news release.
The company, which is moving from its research and development stage to commercial production, is still losing money though. The company lost a total of $635,000 through the last three quarters.
John Shaw, head of Fytokem, says several major personal care companies have bought pilot-scale quantities of Fytosoothe, an anti-irritant made from plant extracts. Another product, Fytosorb, aimed at sun care product manufacturers, was also launched recently.
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The company has been drawing on equity funding from the Agri-Food Equity Fund and will tap $500,000 in Saskatchewan Opportunities Corp. equity. It will seek more financing in 2000 to support its expansion plans.
Lester’s buys Schwan’s
Saskatoon newsroom
Lester’s Premium Foods of Winnipeg has acquired Schwan’s Canada direct-to-home food distribution organization.
Schwan’s announced earlier this year it will cease Canadian operations by the end of the year.
Lester’s hopes to have 150 independent operators across Western Canada by January.
The deal includes 27 depots and more than 250 trucks in Western Canada. Lester’s has also acquired the ice cream plant and dry storage building in Neepawa, Man. It will use the Neepawa facility to produce ice cream.
P & H takes over elevator
Saskatoon newsroom
Parrish & Heimbecker Ltd. is taking over the United Grain Growers elevator at Milk River, Alta.
UGG was going to close the elevator to centralize operations at other nearby facilities.
Parrish & Heimbecker plans to operate the elevator in conjunction with its existing facilities in Milk River, expanding its grain storage capacity in the area, said a news release.
Terms of the purchase were not disclosed.
