Buyer Found For Troubled Hemp Company

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Eco-friendly building materials supplier Lime Technology has bought the troubled hemp processor and supplier, Hemcore, from its administrators.

The deal will be welcome news to the farmers and growers who supply Hemcore, as Lime Technology promised to honour contracts already in place. It said it would retain the Hemcore brand name for now, but would rename the business Hemp Technology, a wholly-owned subsidiary of Lime Technology.

Hemcore's offices and factory in Halesworth, Suffolk, are to be kept open and it is planned to keep the existing members of staff. Mike Duckett will become the managing director for the company and John Hobson remains the main contact for customers.

As well as providing hemp shiv (the pulpy centre of the stalk) for Hemcrete and other construction products, Lime Technology will continue to service the Hemcore supply chain, providing a range of products, including insulation, horse bedding and fibre to the car industry.

The company plans to expand Hemcore's base of farmers for the 2010 growing season in response to growing demand for hemp from certain sectors, such as construction. It is anticipated that 6000-8000 acres of hemp will be needed next season.


News Hawk: User: http://www.420magazine.com/
Source: Farmers Weekly
Author: Paul Spackman
Copyright: 2009 Reed Business Information Limited
Contact: Farming & Agriculture News from Farmers Weekly Interactive
Website: Buyer found for troubled hemp company