USA: Bion announces JV to develop dairy complexes, says symbol change, stock split
Dairy Park, a subsidiary of New York-based Bion Environmental Technologies, a developer of livestock waste management systems, has signed a deal with Dr. Michael J. McCloskey and Timothy C. den Dulk to develop, own and operate a number of large dairy facilities. Bion anticipates that two to four complexes, ranging in size from 10,000 to 50,000 animals, will be developed by the JV over the next three years. The complexes will be made available to dairy producers under terms of a ten-year, triple-net lease. Bion will provide its technology for waste management, secure financing for the facilities, develop the financial lease terms and provide independent management. The primary responsibilities of the McCloskey/den Dulk partnership will be site selection and development, lease terms and recruitment of tenants, and management of the facilities.
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