Nate's Food Company (NHMD)

[Andco]

Out in the news wires now.

Nate’s Food Co. Announces it has Finalized an Agreement to Purchase New Equipment Capable of Generating up to $40,000,000 A...

Source: Business Wire
Nate’s Food Co. (NHMD) announced today that the Company has agreed to acquire a new rotary piston filling can line. The new line will be capable of producing between 8,000,000 and 10,000,000 cans per year and will be completely installed at the Company’s factory in Fairfield, California within the next 10-12 weeks. The Company has begun moving its production from its Los Angeles co-packer to its factory line in Fairfield. The initial components are expected to be installed in the next 3-4 weeks with the remaining components added on to increase the number of cans produced per minute. As a result, the Company will be able to supply product for the expected distribution agreements without any delays.

The benefits of moving production from Los Angeles to Fairfield include control over the production line and equipment, a 300% increase in production space, additional storage for raw materials, reduction in freight expenses and an increase in the quality control of the product. The line cost approximately $400,000 and is being financed by SouthCorp Capital (OTC: STHC).