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Solbar Industries Ltd. of Ashdod,
Israel, is a leading global manufacturer of specialty soy products
for the food and cosmetic industries. Solbar, seeking to expand, is investing
heavily in new soy development technologies. With an average annual growth
rate of 30%, Solbar owns subsidiary companies in China, Europe, and the
U.S.
The Negev Foundation has made a concerted effort, beginning in January
2003, to persuade Solbar to establish an Ohio-based plant. A Solbar
Ohio plant would employ about 50 people initially, and about 250 people
when fully expanded.
Solbar began numerous discussion with the Ohio Trade Office in Tel Aviv,
Ohio growers, Ohio Soybean Council, Ohio Department of Development,
county commissioners and economic development groups, the Regional Growth
Partnership (Toledo), AEP electric power plant (Conesville), port authorities,
Governor Taft’s regional representatives, the USDA, the Air Quality
Development Commission, the Farmers Commission, and with Battelle Science
and Technology International in Columbus.
In July 2003, Solbar hired an Ohio-based agriculture and economic development
firm to help identify plant locations, equity partners, financing and
marketing opportunities, to deal with fiscal and regulatory issues and
to resolve transport logistics.
Through the end of 2003, Solbar identified several possible sites for
a processing plant, hired an Israeli director for U.S. operations, sought
out sources for Ohio soybeans and determined potential U.S. sales outlets.
The Negev Foundation identified potential equity partners in Ohio.
Solbar executives have hired an Ohio civil engineering and land development
firm to investigate the two sites still under consideration (Orville,
in Wayne County, and Newark, in Licking County) for construction licenses
and permits and to regard possible future expansion to include the construction
of a crushing plant. Solbar is still negotiating with the cities, counties
and port authorities.
The Negev Foundation has identified and introduced Solbar to potential
equity partners (e.g., the Bridge Fund in Cleveland), with whom Solbar
has begun discussions.
By spring 2005, Solbar anticipates making a final site decision. They
should begin groundbreaking by summer 2005, and start production by
December 2005.
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