The Andersons, Inc. (Nasdaq: ANDE) announced today it has completed the purchase of an ethanol facility in Denison, Iowa, now known as The Andersons Denison Ethanol LLC.
The operations consist of an ethanol production facility with an adjacent 2.7 million bushel grain terminal, previously owned by Amaizing Energy Denison LLC and Amaizing Energy Holding Company, LLC, with direct access to two Class 1 railroads in Iowa.
"As our first ethanol plant west of the Mississippi, this purchase provides us with geographic diversity," says Neill McKinstray, President, Ethanol Group. "We are looking forward to expanding our ethanol production, marketing and services in one of the highest corn production regions in the U.S. and offering our grain marketing and risk management services to our growers."
The Andersons Denison Ethanol LLC has been organized to provide investment opportunity for The Andersons as well as outside investors. The Andersons will manage the operations, and provide grain origination, risk management, and DDG and ethanol marketing services.
The ethanol plant in Denison, Iowa, is the fourth ethanol facility in which The Andersons has an investment and serves as manager. The other ethanol facilities are located in Albion, Mich., Clymers, Ind., and Greenville, Ohio.