Associated Press, Published March 11 2010
Shuttered Northwood canola processing plant looking to reopenBISMARCK (AP) — A defunct Northwood canola processing plant wants to reopen, about a year after it went broke and left $810,000 in unpaid bills.
North Dakota's Public Service Commission is considering whether to issue a new grain warehouse license to Northwood Mills LLLP.
Normally the warehouse would need only a $50,000 bond. But the commission has authority to demand a larger amount.
Northwood Mills had problems when the canola oil market declined and a large oil sale fell through.
Commissioner Brian Kalk says the company should outline its plans for avoiding future money problems.
Commission Chairman Kevin Cramer says the Northwood community may be better off if the business reopens, even with its checkered history.
Copyright 2010 The Associated Press.