--(www.USEquityNews.com)-- 03/27/2008 - Consumer Goods industry alert provided by U.S. Equity News. China-based Origin Agritech Ltd. (NASDAQ: SEED), which makes genetically modified corn, said recently its loss narrowed in the first quarter due to higher canola seed sales and changes in the fair value of embedded derivatives. For the quarter ended Dec. 31, the company reported a loss of $2.1 million, or 9 cents per share, compared with a loss of $3.9 million, or 17 cents per share, in the prior-year quarter. The results were helped by a gain of $2.6 million for changes in the fair value of embedded derivatives.
Continuing its commitment to strengthening American agricultural communities, Archer Daniels Midland Company (NYSE: ADM) recently called for applications for its 2008 Community Partnership Grant Program. The program will award up to four grants of $10,000 each for community improvement projects in cities and towns where ADM operates. "ADM believes we have a responsibility to the communities where we live and work, and we are committed to enhancing the quality of life in these areas," said Mirinda Rothrock, ADM corporate community engagement manager.
Chicken producer Pilgrim's Pride Corp. (NYSE: PPC) said recently it promoted Robert A. Wright to chief operating officer. Pilgrim's Pride said Wright is succeeding J. Clinton Rivers, who was promoted to president and chief executive earlier this month. Wright previously served as executive vice president of sales and marketing.
NutraCea (OTCBB: NTRZ), a world leader in stabilized rice bran (SRB), nutrient research and technology, announced on Monday March 24, 2008 that it has completed the purchase of a 124,000 square foot production facility in Phoenix. The seven-year-old facility, located at 4502 West Monterosa Street, will enable NutraCea to expand its stage-two production of value-added rice bran derivatives and its line of baby cereal products to supply growing customer interest in NutraCea's nutrient-rich rice-bran-based products. This new plant will have an initial capacity of 5,000 tons annually when fully operational, and will provide enough room to accommodate up to 10,000 tons of annual production when it is fully built out.
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