On deadline, animal slaughtering plant opens share buying to public

CAVALIER, N.D. -- The group proposing an animal slaughtering facility in Cavalier, N.D., is expanding its membership campaign to the public.
The group also has authorized a Nebraska company to begin developing plant designs and equipment specifications for the Pembina-Walsh Livestock Processing Plant, according to Julius Wangler, the group's chairman. The plans are expected to be completed by mid-September.
The proposed $1.7 million project, which would include a 5,000-square-foot slaughtering plant in Cavalier's industrial park, is projected to employ up to 10 people within three years of operation.
When it is fully operational, it will have the annual capacity to process 1,100 head of beef, 1,000 head of hogs, 150 head of bison and 150 head of other animals, including lambs and elk.
The plant would provide custom meat processing for area producers. Plant-owned retail products would include sausage, beef snacks, bundles of meat, hamburger, steaks, roasts and other products requested by customers.
More than 20 investors pledged a total of about $150,000 toward the plant in a recent shareholder campaign.
While the group would have like to have raised more, Wangler said the group remains optimistic.
"Having 20 individuals interested in the first month is pretty good," Wangler said. "I think that as we go on for a few months, and we get to maybe 50 investors, then we'll decide how much we need to go ahead."
Shares sell for $1,000 each.
The group, which initially set a $1 million shareholder goal, faces a May 2016 North Dakota Securities Commission deadline to raise the necessary capital.
The group also is pursuing other potential funding sources, including low-interest loan through the Bank of North Dakota PACE Fund.
Group leaders still hope to begin construction this year, he said, adding that the committee will review all aspects of the project once design plans are received. If it is built, the plant likely would open later this year or in 2016.
Money raised through the sale of shares is being deposited into an escrow account with Citizens State Bank of Lankin.
Wangler, a Grafton, N.D.,-area livestock producer and former executive director of the Red River Regional Council, said he remains optimistic about the project.
"Right now, people are very cautious to invest," Wangler said. "Quite a few have said, 'Here's so much; let's see how it goes, and then we'll invest more.'"
For more information about the project, contact Wangler at (701) 360-1000.