Global farmer-owned agribusiness cooperative CHS on 1 December closed two US soyabean processing facilities and a technology development centre in order to improve its financial standing.

The shuttered facilities included a textured soya protein-producing plant in Hutchinson, Kansas; a soyabean crushing and soya meal and flour facility in Creston, Iowa; and an Innovation & Technology Center (ITC) in Eagan, Minnesota, World Grains wrote on 5 December.

The company said it would continue to focus on operations that were more closely aligned with other CHS commodity-based core businesses, such as grain marketing and fuels.

CHS acquired the Hutchinson facility in 2008 from Legacy Foods and produced Ultra-Soy branded protein used as a food ingredient and as a nutritional supplement.

The Creston plant was acquired from Creston Bean Processing in 2011, and CHS opened the ITC – which provided product application research and development – just in 2013.