Green Plains to buy 3 ethanol plants, increasing its production by 20 percent
Green Plains Inc. said Monday that it plans to increase its ethanol production by 20 percent, saying it has agreed to buy three plants from bankrupt Spanish producer Abengoa to increase its access to burgeoning export markets for the corn-based motor fuel.
The Omaha-based ethanol producer said in a statement that it is the successful bidder in bankruptcy proceedings for Abengoa plants in York, Nebraska; Mount Vernon, Indiana; and Madison, Illinois.
The acquisitions, for $237 million, will bring the employer of about 160 people in Omaha to about 1.5 billion gallons a year in production of the motor fuel and motor-fuel additive.
The Indiana and Illinois plants give Green Plains easy access to barge transportation on the Mississippi River and export via a terminal the company plans to build in Beaumont, Texas.
Read more: http://www.omaha.com/money/green-plains-to-buy-ethanol-plants-increasing-its-production-by/article_9e1392cc-68cb-11e6-82f7-874ca5232343.html
