Green Plains acquire three ethanol plants in US

Green Plains to acquire three ethanol plants in US

10:00 AM, 25th August 2016
Green Plains to acquire three ethanol plants in US

OMAHA, US: Green Plains Inc, a producer of ethanol fuel said that it will acquire three ethanol plants of Abengoa Bioenergy. The company will purchase the Madison, Mount Vernon and York (US) ethanol facilities, with combined annual production capacity of 236 million gallons per year, for approximately $237 million in cash, plus certain working capital adjustments.

Upon completion of the acquisitions, Green Plains will own and operate 17 dry mill ethanol facilities with combined production capacity of nearly 1.5 billion gallons per year.

The acquisitions are expected to be complete no later than 30 Sept 2016 at which time the ethanol storage and transportation assets will be offered to Green Plains Partners.

“We continue to focus on making strategic investments in high-quality assets as we expand our production footprint,” said Todd Becker, president and CEO of Green Plains.

“The Madison and Mount Vernon plants will give us access to the Mississippi River, supporting our new export terminal planned in Beaumont, Texas. In addition, we will broaden our product offering globally with industrial alcohol production at the York plant. These acquisitions further our commitment to deliver long-term value for both Green Plains Inc and Green Plains Partners shareholders,” added Becker.

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