CJ BIO America breaks ground on $320 million lysine factory in Fort Dodge, Iowa
High-tech factory is first US construction project, benefits local and value-added agriculture economy
May 14, 2012, 02:30 ET
FORT DODGE, Iowa, May 14, 2012 /PRNewswire/ -- CJ BIO America broke ground today on their first US construction project – a $320 million lysine production facility at the North Central Ag Industrial Park west of Fort Dodge, Iowa.
Today's ceremony highlighted the creation of more than 170 jobs in central Iowa by 2014. The factory will annually produce more than 100,000 metric tons of amino acids to supplement animal feeds.
Lysine is derived from corn by-products to provide an essential amino acid for hog and poultry feed. Domestic production by CJ BIO America is expected to benefit demand for corn and provide better value with domestic feed customers.
"Combined with the capability of the state of Iowa, we believe that CJ will be able to produce our main product, Lysine, with a soaring synergy," said Mr. Tae Jin Jeong, Chief Operating Officer, Bio Division of CJ CheilJedang. "In addition, we believe without a doubt that CJ BIO America will be growing in conjunction with the community by actively promoting the growth of local economy as well as the state of Iowa's."
"The lieutenant governor and I both had the honor of meeting with CJ on our respective trade missions to the Republic of Korea," said Iowa Governor Terry E. Branstad. "We are extremely excited to welcome them here on Iowa soil for the groundbreaking. We appreciate the time, energy and investment CJ is making in our state and our people, and we look forward to working with them for many years to come."
Construction begins immediately at the 65-acre site, and the factory is expected to open in early 2014.
ABOUT CJ
For more than five decades, CJ has maintained a reputation as a leading food and consumer product manufacturer in The Republic of Korea (South Korea). Since 2000, CJ's business portfolio has expanded to cover four core areas: Food and Food Service; Bio Pharma; Entertainment and Media; Home Shopping and Logistics. CJ America has served numerous roles in the development of the company's core capacities in the North America region for 25 years, assisting the parent company in Korea by developing new markets and creating business opportunities. Visit http://english.cj.net for more information.
SOURCE CJ BIO America