CORTEZ <COZYF.O> UNIT SETS FOOD PARTNERSHIP
Ram Industries Inc, a unit of Cortez
International Ltd., said an agreement has been reached with
<Treasure Valley Foods> of Nampa, Idaho, to lease all of
Treasure's buildings and equipment.
    The company said the joint venture will be between Ram and
one of its units, Multiple Resources Inc, and that the
operation will retain key Treasure management employees.
    Ram said operations will begin by August one and will
involve processing onions in addition to other frozen food
products during the initial year of the project.
   
    Ram said it expects sales to exceed 12 mln dlrs during the
first 24 months with net income exceeding 1.8 mln dlrs.
    The company also said it is in negotiations to purchase a
yet undisclosed facility in Mississippi which processes up to
1.4 mln pounds of frozen okra monthly.
 Reuter
