Canadian fruit juice processor D'Angelo Brands has said that negotiations are almost complete for a new US$3 million (€304m) credit facility to finance the start of operations at its new Tiverton processing plant.
The company expects the 25,000 square foot plant, bought in mid-September, to be fully operational by 1 November 2002.
Commitments have been received for the purchase of bulk apples for pure juice production, said D'Angelo, and plant-processed pure juice will be packed in its Mississauga plant. The company will fill contract orders in hand for D'Angelo-branded apple juice and apple cocktail from major Eastern Canadian distributors.
Company president Frank D'Angelo said: "D'Angelo employees have done an outstanding job in preparing our new plant for fall apple juice production. We have been able to leverage this asset quickly with substantial orders already in hand from major retailers."
Juice concentrate production at Tiverton will focus initially on blueberry and cranberry concentrates which will be sold in the wholesale market as well as being used for the production of D'Angelo branded cocktail drinks in the 48-ounce format.
The company added that negotiations are underway with two established US beverage companies for long term co-packing contracts, to be fulfilled at the the Mississauga plant. Case volumes under discussion are in the order of 10 million per annum.