OVERLAND PARK, Kan., Feb. 16 /PRNewswire/ -- Lansing Grain Company, LLC
and Macquarie Bank Limited ("MBL") today announced the formation of Lansing
Ethanol Services, LLC ("LES"). The new company is a joint venture between
Lansing Grain Company, LLC and an indirect wholly owned subsidiary of MBL,
Macquarie Americas Corp. LES will provide ethanol marketing services for
ethanol producers, actively trade physical ethanol and will work to develop
synergies between a leading commodity focused financial institution and a
progressive trading company.
Lansing Grain Company's team of experienced professionals has developed a
solid reputation in the trading of physical ethanol, corn and distillers'
grains. This business initiative will move Lansing's rapidly growing ethanol
trading activity to Lansing Ethanol Services, positioning it well for future
growth.
Macquarie's Commodity Markets Division, with substantial experience and
activities across a range of US agricultural commodity and energy markets,
will provide strategic risk management products for ethanol producers.
Combining this expertise with knowledge of the physical ethanol market and
logistics capabilities of Lansing Grain Company, LES will create many
appealing services for both ethanol producers and ethanol blenders.
"This joint venture is a natural extension of Macquarie's focus on the
commodity sector. Our experience in commodity risk management and project
finance will be greatly complemented by Lansing's physical expertise in the
grain and ethanol markets," said Michael Allison, Division Director within the
Commodity Markets Division of Macquarie. "Lansing Ethanol Services looks
forward to offering both existing and new clients the benefits that this
combination of physical and financial know-how will offer," he said.
"Lansing has worked very hard to establish itself as a significant player
in the ethanol trading space, building on our strong history in agricultural
commodities. We are delighted to enter into this joint venture with
Macquarie, who has shown from the beginning of our relationship that they
understand this space and have a desire to participate in the rapidly growing
ethanol industry," said Bill Krueger, President and CEO of Lansing Grain
Company. "We see this business as having the ability to provide stability and
financial strength to a volatile business dominated by commodity risk," he
said.
Lansing Ethanol Services expects to commence operation on the March 1,
2006, with the business headquartered in Overland Park, KS.
About Macquarie
The Macquarie group (Macquarie) is a diversified international provider of
specialist investment, advisory, trading and financial services in select
markets around the world. Headquartered in Sydney, Australia, the Macquarie
group comprises Macquarie Bank Limited (MBL), the leading Australian
investment bank and its subsidiaries and affiliates worldwide. Macquarie Bank
listed on the Australian Stock Exchange (ASX: MBL) in 1996 and is ranked as
one of Australia's top 15 companies by market capitalization.
Macquarie is active in a broad range of financial and physical commodities
markets globally, with a worldwide team of professionals who have in-depth
knowledge across a range of commodity sectors. In the United States this
expertise is marketed by executives in MBL Representative Offices in
California, New York and Texas. These activities are complemented by a range
of other Macquarie Bank commodities subsidiaries located within the United
States and South America.
About Lansing Grain Company, LLC
Lansing Grain Company, a privately owned firm, was formed in 1931. The
current ownership group has grown Lansing into a national trading company. The
company trades whole grains, feed ingredients, and energy products in U.S.
domestic and export markets. Current annual revenues are approximately $1.2
billion. Company headquarters are in Overland Park, Kansas. Additional
information is available online at http://www.lansinggrain.com.
SOURCE Lansing Grain Company, LLC
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Related links:
http://www.lansinggrain.com
CONTACT:
Bill Krueger of Lansing Grain Company LLC,
+1-913-748-3012, or bkrueger@lansinggrain.com ; or Alex Doughty,
Corporate Communications of Macquarie Group, +1-212-231-1710, or
Cell, +1-646-824-1708
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