Michelex Corp (fka MLXO)

[SRT8]

MLXO ..

Monday , January 08, 2007 21:48ET

Jan 06, 2007 (Watertown Daily Times - McClatchy-Tribune Business News via COMTEX) -- MASSENA -- Michelex Corp. has received an extension to raise funds to acquire Ag Pro Ltd., its neighbor in the industrial park.

Michelex, which makes and distributes audio and video discs, is trying to buy $12 million in assets from the soybean processing company. Michelex President Thomas Gramuglia announced the extension Friday.

Ag Pro began production of soy-based animal feed in 2002 after two decades of planning. In 2003 the plant went on a several-month hiatus owing to low demand and high bean prices. Michelex would increase biodiesel production and add 50 jobs if it takes over.

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