MBI gains loan for US plant expansion
The US biopesticide company, Marrone Bio Innovations (MBI - Davis, California), is to expand its manufacturing plant in Bangor, Michigan to meet product sales increases projected over the next two years. It has secured a $10 million bank loan to fund the expansion. That follows MBI's receipt of a $10 million loan guarantee from the USDA this month (Agrow No 690, p 3). When fully staffed, the plant is expected to create 40-50 new jobs.