Green Plains completes Texas ethanol facility acquisition
The company bought plant from gasoline retailer Murphy USA Inc for $93.8 millionUSD
Green Plains
Green Plains Inc. today announced that it has completed the acquisition of an ethanol facility located in Hereford, Texas. The Hereford facility is the company’s fourteenth ethanol plant, bringing Green Plains’ total production capacity to more than 1.2 billion gallons per year.
The company expects to offer the facility’s transportation and storage assets to its master limited partnership, Green Plains Partners LP.
The company processes twelve million tons of corn annually, producing over 1.2 billion gallons of ethanol, approximately 3.4 million tons of livestock feed and 275 million pounds of industrial grade corn oil at full capacity.
Green Plains, together with its subsidiaries, owns a 62.5% limited partner interest and a 2.0% general partner interest in Green Plains Partners LP.
The company bought the plant from gasoline retailer Murphy USA Inc for USD 93.8 million, including working capital. The facility’s transportation and storage assets will be offered to Green Plains’ master limited partnership, Green Plains Partners LP.
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