Hemp Inc (OTCMKTS:HEMP) said that after months of waiting, Industrial Hemp Manufacturing, LLC has received the approval by Nash County to move forward with the reassembly of Temafa decortication line based in North Carolina. Industrial Hemp is the fully owned subsidiary of the company. In order to get agricultural exemption, the Nash County wanted the engineering outlines for the line layout and a relevant farm ID number.
David Schmitt, the COO of Hemp’s subsidiary, said that the management will visit local farmers in this week to make arrangements to get almost 2,000 acres of Kenaf cultivated, which would yield more than 20 million pounds of Kenaf for use in next year. Hemp Inc (OTCMKTS:HEMP) has nearly four million pounds of usable Kenaf and is in the final stages of purchase negotiations of another ten million pounds of raw Kenaf. Once Industrial Hemp is legalized in region, the company intends to convert Kenaf inventory to Industrial Hemp for all products.
The reassembly work
With the agricultural permit in hand, the Temafa Decortication line inside the facility can be reassembled. The management is making necessary arrangements to get the Temafa Engineers to commence the process. The decortication line at the Temafa is the only one of its scope and size in North America. Also, it is one of the only five lines in the world. Two of them are based in France, and other two are in South Africa processing industrial hemp.
Hemp Inc. acquisition of the decortication line is proving to be an effective strategic decision and is positioning the company for success in the emerging industrial hemp segment. Bruce Perlowin, the CEO feels the country is transforming from non-sustainable synthetic applications to hemp-based green solutions. The decortication plant is significant revenue producing asset and Positions Company as an industry giant.