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News (Media Awareness Project) - US: Wire: Noted Plant Biologist Dr. Slavik Dushenkov Joins
Title:US: Wire: Noted Plant Biologist Dr. Slavik Dushenkov Joins
Published On:1999-03-22
Source:Business Wire
Fetched On:2008-09-06 10:09:18
NOTED PLANT BIOLOGIST DR. SLAVIK DUSHENKOV JOINS CONSOLIDATED GROWERS

MONTEREY, Calif.--(BUSINESS WIRE)--April 22, 1999--One month after the
March 15 announcement that DuPont Co. sought to pay $7.7 billion for
leading seed producer Pioneer Hi-Bred International Inc., Consolidated
Growers & Processors Inc. (OTC/BB: CGPR), the first multinational
industrial hemp company, has announced that renowned plant biologist
Dr. Slavik Dushenkov has joined the company to head its biotechnology
and seed breeding units.

Dushenkov will oversee a sophisticated biotech development program for
industrial hemp similar to that which made Pioneer Hi-Bred
International valuable for corn.

A leading scientist in the areas of plant biology and phytoremediation
(using plants to clean contaminated soil), Dushenkov is also the
author of numerous books and scientific publications in the field.

As a visiting research professor at Rutgers University, Dushenkov will
oversee and coordinate the CGP research program being conducted at
Photosynthetic Harvest Inc. (PHI), the corporate research affiliate of
Rutgers. On April 8 CGP finalized its agreement with PHI, paving the
way for the development of novel nutraceutical and pharmaceutical
products derived from hemp.

Of the hiring of Dushenkov, CGP chief executive officer Larry Siddens
stated, "We are honored to welcome Dr. Dushenkov to our staff and
anticipate that his work will be integral in revealing the full
potential of hemp as it benefits human beings."

With hemp oil already recognized for its anti-oxidant qualities, CGP
is planning to announce a line of trademarked hemp oil and hemp seed
products known as "H3(OMEGA SYMBOL)" later this year.

Global sales of hemp, a versatile and environmentally friendly crop
grown legally in two dozen countries, are "booming," according to U.S.
News & World Report. Having made substantial inroads in the sale of
raw materials, CGP also seeks to produce value-added products such as
nutraceuticals and pharmaceuticals, high-nutrient foods, supplements
and cosmetics as well as fine fiber for use in autos and insulation
and fiber for paper products, plastics and metals.

On April 9 CGP's Canadian subsidiary announced the choice of Dauphin,
Manitoba as the site for two processing facilities -- the largest of
their kind in the Western Hemisphere -- which, at full capacity, will
process up to 100,000 tons of hemp straw and 15,000 tons of hemp seed
annually.
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