PICO Holdings, Inc. Announces Agreements to Build and Operate a New Plant

PICO Holdings, Inc. PICO has entered into definitive agreements to build and operate a canola processing plant with an integrated refinery near Hallock, Minnesota. The plant will process up to 365,000 tons of canola seed annually, and produce over 280 million pounds of high value, food grade "RBD" canola oil (refined, bleached and deodorized) and 195,000 tons of canola meal annually. The plant is expected to be operational by the fourth quarter of 2012.