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Non-Tech : LIFEWAY FOODS (LWAY)

LWAY 22.03

-1.0%

Jan 23 3:59 PM EST

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To: Dave Jones who wrote (162)	1/19/1998 2:33:00 AM
From: Steve Cox	Read Replies (1) of 352

Hi Dave, I believe the plant did get delayed by a few months as it was to come on line in late summer. It is now operating producing products other than the kefir. The old $6M max capacity plant is currently producing only kefir. Hope whatever problems occurred are permanently resolved. Mr. Smolyansky did have an unforseen occurance with the new machines in the new facility: more farmers cheese was manufactured than anticipated. Now that's a problem I like to hear about. Food ( KEFIR ) For Thought : 1 out of 3 people like yogurt. In the USA only (400M pop.) that's 132M customers. LWAY's cut is $1.60 a quart. The numbers become staggering when you plug those variables in if each yogurt eater drinks just 1 quart a YEAR! I drink a quart a week. If demand for machinery and labor occurs (capital needed?) remember rumor has it Moscow Nites (LWAY's restaurant) may be for sale. ($700K-$1M). Cost was approx. $500K to outfit the first 20% of the new facility with machinery. Is Mr. Smolyansky getting his ducks in a row? Dave are you a shareholder? What do you predict for revs in 1998 with the plant expansion on line and penetration into retail chains. Steve

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