Ohio's Largest Ethanol Plant
MAUMEE, Ohio and HOUSTON, Feb. 11 /PRNewswire-FirstCall/ -- The
Andersons, Inc. (Nasdaq: ANDE) and Marathon Oil Corporation (NYSE: MRO)
today jointly announced ethanol production has begun at their 110-million
gallon ethanol plant located in Greenville, Ohio.
The plant was constructed by The Andersons Marathon Ethanol LLC, a
50/50 joint venture between The Andersons Ethanol Investment LLC, a
subsidiary of The Andersons, Inc., and Marathon Petroleum Company LLC, a
wholly owned subsidiary of Marathon Oil Corporation. Construction on the
facility began in November 2006.
"We are pleased to be opening the third ethanol plant in which we have
an investment and for which we are providing management and other
services," says Mike Anderson, President and CEO of The Andersons, Inc.
"Locating in Darke County, the largest corn-producing county in the state,
is ideal and the community's reception has been exceptional. In addition to
providing a viable alternative fuel source for our country, we look forward
to serving the local farming community through corn sourcing and
high-quality distillers dried grains."
"Marathon has been blending ethanol fuels for more than 15 years and is
among the largest blenders of ethanol in the United States," said Gary R.
Heminger, executive vice president of Marathon Oil Corporation and
president of the company's refining, marketing and transportation
operations. "As a partner in the Greenville facility, the largest ethanol
plant in Ohio, Marathon is one of the first U.S. oil companies to initiate
its own ethanol production operations. We also are a leader in quality
testing of ethanol and a pioneer in creating the distribution
infrastructure necessary to make ethanol available in the Midwest and
Southeast."
Along with the 110 million gallons of ethanol, the plant annually will
produce 350,000 tons of distillers dried grains, an animal feed ingredient.
The facility will employ a workforce of 45.
About The Andersons, Inc.
The Andersons, Inc. is a diversified company with interests in the
grain, ethanol and plant nutrient sectors of U.S. agriculture, as well as
in railcar leasing and repair, turf products production, and general
merchandise retailing. Founded in Maumee, Ohio, in 1947, the company now
has operations in seven U.S. states plus rail leasing interests in Canada
and Mexico. For more, visit The Andersons online at http://www.andersonsinc.com.
About Marathon
Marathon is the fourth-largest U.S.-based fully integrated
international energy company engaged in exploration and production;
integrated gas; oil sands mining; and refining, marketing and
transportation operations. The Company has exploration and production
activities in the United States, the United Kingdom, Angola, Canada,
Equatorial Guinea, Gabon, Indonesia, Ireland, Libya and Norway. Marathon is
the fifth largest refiner in the U.S. with 974,000 bpd of crude processing
capacity in its seven-refinery system. The Company's retail marketing
system comprises approximately 6,000 locations in 18 states; nearly
three-quarters are Marathon brand locations. Marathon serves the Midwest
and Southeast as a petroleum products marketer with 85 light product and
asphalt terminals and the Company owns, operates, leases or has an
ownership interest in approximately 9,900 miles of pipeline.
SOURCE The Andersons, Inc.; Marathon Oil Corporation
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Related links:
http://www.andersonsinc.com
CONTACT:
Marathon Media Relations, Linda Casey,
+1-419-421-3262, lmcasey@marathonoil.com; Marathon Investor
Relations, Howard Thill, +1-713-296-4140,
hjthill@marathonoil.com; Gary L. Smith, VP, Finance & Treasurer,
of The Andersons, Inc., +1-419-891-6417,
gary_smith@andersonsinc.com
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