-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RaMSML+GWsEYW/dqGSsILw8XXUXZd/AKlgBTFGQ6YF31g7Nd6wnp5xNa8yONrz8r xGKbSxF8EwUGmlCvRo95mA== 0000916002-03-000015.txt : 20030312 0000916002-03-000015.hdr.sgml : 20030312 20030312103747 ACCESSION NUMBER: 0000916002-03-000015 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030312 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030312 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MGP INGREDIENTS INC CENTRAL INDEX KEY: 0000835011 STANDARD INDUSTRIAL CLASSIFICATION: GRAIN MILL PRODUCTS [2040] IRS NUMBER: 480531200 STATE OF INCORPORATION: KS FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-17196 FILM NUMBER: 03600241 BUSINESS ADDRESS: STREET 1: 1300 MAIN ST CITY: ATCHISON STATE: KS ZIP: 66002 BUSINESS PHONE: 9133671480 MAIL ADDRESS: STREET 1: 1300 MAIN STREET CITY: ATCHISON STATE: KS ZIP: 66002 FORMER COMPANY: FORMER CONFORMED NAME: MIDWEST GRAIN PRODUCTS INC DATE OF NAME CHANGE: 19920703 8-K 1 form8k.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) March 12, 2003 MGP Ingredients, Inc. (Exact name of registrant as specified in its charter) KANSAS 0-17196 48-0531200 (State or other jurisdiction of (Commission (IRS Employer Identification No.) incorporation) File Number) 1300 Main Street Box 130 Atchison, Kansas 66002 (Address of principal executive offices) (Zip Code) (913) 367-1480 (Registrant's telephone number, including area code) Item 7. Exhibits 99.1 Press Release dated March 12, 2003, filed solely for the purposes of incorporation by reference into Item 9 herein. Item 9. Regulation FD Disclosure. Attached as Exhibit 99.1 and filed solely for the purposes of incorporation into this Item 9, is a press release which was issued on March 12, 2003, by MGP Ingredients, Inc. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MGP INGREDIENTS, INC. Date: March 12, 2003 By:/s/ Brian T. Cahill Brian T. Cahill Vice President and Chief Financial Officer INDEX TO EXHIBITS 99.1 Press Release dated March 12, 2003, filed solely for the purposes of incorporation by reference into Item 9 herein. EX-99 2 ex991.txt PRESS RELEASE CONTACT: Steve Pickman at 913-367-1480 FOR IMMEDIATE RELEASE: MGP INGREDIENTS TO EXPAND KANSAS CITY FACILITY ATCHISON, Kan., March 12, 2003--The Board of Directors of MGP Ingredients, Inc. (MGPI/Nasdaq) has approved plans for a $3.8 million expansion project at the company's plant in Kansas City, Kan. Expected to be completed by March, 2004, the expansion will involve the installation of additional equipment to extend the company's line of Wheatex textured wheat proteins and other protein and starch-based ingredients. Approximately half of the project's cost is expected to be offset by funds provided under a previously announced U.S. Department of Agriculture (USDA) program to support the development and production of value-added wheat proteins and starches. "This expansion is indicative of the progress we are making in building our specialty ingredients business," said Ladd Seaberg, president and chief executive officer. "Because current customer growth and demand should exceed the plant's capacity for some of our products in the next fiscal year, it is necessary to take this measure now to be well positioned for growth." MGPI acquired the Kansas City facility in February, 2001. It was formerly owned by Thompson's Nutritional Technology, Inc. "This acquisition has become a wonderful asset for the company," Seaberg said. "In a relatively short period of time, it has substantially strengthened our capabilities to meet demands in the marketplace while also giving us greater flexibility in the types of goods and services we can offer our customers," he added. The company produces several varieties of its Wheatex product at the plant. Ranging in size from small flakes to large chunks, Wheatex is used to improve the textural quality and flavor profile of vegetarian and extended meat products. A separate portion of the Kansas City facility is dedicated to the production of MGPI's Polytriticum lines of edible and non-edible wheat-based polymers that can be used in the manufacture of pet treats and biodegradable items. Enhancements will also be made to that section of -more- ADD 1--MGP INGREDIENTS TO EXPAND KC FACILITY the plant as part of the expansion project. Additionally, approximately $1 million of the total projected cost of the expansion is earmarked for the purchase and installation of new equipment to support ongoing research and development at the plant. With some modifications, this equipment can be used to supplement Wheatex production, according to Seaberg. "We're very excited to move forward with this project," said Mike Trautschold, executive vice president of marketing and sales. "The investment in research and development will help address opportunities presented by current and future customers. It enables us to work significantly on broadening our line of Wheatex products, which can be produced to replicate the appearance and texture of multiple meat, fish and poultry products. The same holds true for our Polytriticum resins, which continue to experience growing demand, mainly from manufacturers of pet treats and natural pet chews." The USDA program to support the development of value-added proteins and starches was implemented in June, 2001. Administered by the USDA's Commodity Credit Corporation, it was granted in lieu of an extended quota on imports of foreign wheat gluten, the protein portion of wheat flour. Over the life of the program, which is scheduled to end May 31, 2003, MGP Ingredients is eligible for approximately $25.6 million of the program total of $40 million. For the first 12 months of the program, approximately $17.3 million was allocated to the company. The remaining $8.3 million was allocated to the company in July, 2002. The funds must be used for capital, research, marketing and promotional costs related to value-added wheat proteins and starch products. In November, 2002, the company completed an $8.3 million expansion at its Atchison, Kansas plant. This expansion involved the installation of additional processing and drying equipment for the production of specialty wheat proteins for bakery, pasta and noodle and related food markets, both domestic and foreign. The company also recently completed enhancements to equipment it uses to produce a number of natural protein and starch-based ingredients for the personal care market. This news release contains forward-looking statements as well as historical information. Forward-looking statements are identified by or are associated with such words as "intend," "believe," "estimate," "expect," "anticipate," "hopeful," "should," "may" and similar expressions. They reflect management's current beliefs and estimates of future economic circumstances, industry conditions, company performance and financial results and are not guarantees of future performance. The forward-looking statements are based on many assumptions and factors, including those relating to grain prices, gasoline prices, energy costs, product pricing, competitive environment and related marketing conditions, operating efficiencies, access to capital, actions of governments or government officials and actions of insurers. Any changes in the assumptions or factors could produce materially different results than those predicted and could impact stock values. ### -----END PRIVACY-ENHANCED MESSAGE-----