Legumex Walker, which spent heavily buying and building assets in the past year, plans to spend millions on improving those assets this year.
At the company’s annual meeting last week, president Joel Horn drew attention to its improved financial results in the first quarter of 2013, in which the special crops division’s earnings before interest, taxes, depreciation and amortization increased 64 percent from the previous year.
It is now time to improve those assets for further growth, through efficiencies and lowered operating costs, he said.
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To that end, the company will spend up to $1.5 million to expand and improve storage, processing and packaging capabilities to allow increased input and longer production runs at two pulse processing plants in Saskatchewan.
It will spend $500,000 on quality management and processing at its sunflower, flax and birdseed division to take advantage of opportunities in bakery and confectionery markets.
He also said the company is open to buying additional plants that would fit its strategic plans.
The company’s new canola crushing plant in Warden, Washington, is expected to reach full production in a few weeks.
