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Vaughan Foods expects first profitable year since 2007 IPO
Moore company plans to add plants on east, west coasts
After weathering a rough 2008 and 2009 — due largely to a spike in diesel fuel, soy bean and other commodity costs — Vaughan Foods Inc., a Moore-based processor and distributor of fresh cut fruits and vegetables and prepared refrigerated salads for institutional and retail uses, is expected to have its first profitable year since the company's initial public offering in 2007.
President Mark Vaughan said business began to turn around the end of last year, thanks in part, he said, to improved manufacturing operations, consolidated transportation — and a drop in commodity prices.
The company was delisted from Nasdaq March 24, after failing to maintain the minimum $1 per share price for 30 consecutive trading days. Its stock since has been trading between 40 cents and 60 cents per share.
"We chose not to appeal the decision, but instead to focus on our growth plans,” Vaughan said. Company leaders are looking for a site in the mid-Atlantic region to base another production facility followed by one on the west coast.
In addition to its 160,000-square-foot plant in Moore, where 525 employees work, the 49-year-old Vaughan Foods has a 15,000-square-foot facility in Fort Worth it acquired in 2006 when it bought Wild About Foods fresh soups and sauces.
Some 30 employees work there and another 30 work in California, growing romaine lettuce, broccoli and cabbage.
"With regional facilities that serve the entire country, we can make our product frequently and deliver it quickly — within 12 hours,” Vaughan said.
Vaughan Foods President Mark Vaughan at the food processing plant on October 20 in Moore. Photo by Steve Sisney, The Oklahoman
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