Green Plains reports purchase of Hopewell Ethanol Facility for undisclosed amount.
M2 EQUITYBITES-October 27, 2015-Green Plains reports purchase of Hopewell Ethanol Facility for undisclosed amount
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Corn oil production company Green Plains (NasdaqGS:GPRE) revealed on Monday that it has completed the acquisition of an ethanol production facility in Hopewell, Virginia, located south of Richmond, for an disclosed value.
The company acquired the ethanol production facility from Future Fuels.
At full capacity, the facility's dry mill ethanol plant will increase Green Plains' annual production capacity by about 60m gallons to nearly 1.1bn gallons per year. The production is expected to resume by the end of the year and corn oil processing is expected to be operational during the second quarter of 2016.
In conjunction, Green Plains expects to offer the Hopewell plant's transportation and storage assets to its master limited partnership, Green Plains Partners (NasdaqGM:GPP), when the plant is fully operational.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Oct 27, 2015|
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