Consolidated Growers Acquires Interest in BAFA!

Consolidated Growers Acquires Interest in BAFA!
Posted by FoM on February 12, 1999 at 07:17:29 PT

MONTEREY, Calif., The Board of Directors of Consolidated Growers & Processors, Incorporated announced today that its wholly owned subsidiary NAWARO has acquired a majority interest in BAFA. BAFA, headquartered in Malsch near Karlsruhe, is a leading German hemp fiber processing firm.
 It pioneered the use of certain industrial raw fibers such as hemp in automotive and building applications and supplies hemp fiber to be used as raw material for automotive interior uses and for use as building insulation. Current customers include two of the leading German car manufacturers. BAFA also delivers the super absorbent fiber hurds used for horse bedding. "We are very pleased that our NAWARO subsidiary has acquired a majority interest in BAFA," said Larry Siddens, chief executive officer of Consolidated Growers. "Their expertise in opening new product areas for industrial fibers fits in very well with our business plan and our goal of becoming a leading producer and marketer of industrial hemp," he continued. Consolidated Growers & Processors, Incorporated was founded for the purpose of expanding and commercializing emerging "industrial crops" such as industrial hemp for use as sustainably grown industrial raw materials. Applications for these products include home building, cosmetics, paper pulp and automotive uses. 
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