MANKATO (TEC News) -- 13 months after being court appointed as the receiver of the former Phenix and Environ manufacturing plant in Mankato, Coldwell Banker Commercial has sold the facility for $3.75 million dollars to Agristand Biocomposites LLC.
Agristrand officials say the Mankato plant will manufacture composite particle board and door core products from soy straw.
The facility should be up and running by late March 2012.
At full capacity will use about 25.000 acres of soy straw from southern Minnesota and northern Iowa farmers and have about 50 employees.
The facility should be up and running by late March 2012.
At full capacity will use about 25.000 acres of soy straw from southern Minnesota and northern Iowa farmers and have about 50 employees.