MAUMEE, Ohio, July 9 /PRNewswire-FirstCall/ -- The Andersons, Inc.
(Nasdaq: ANDE) today announced the Illinois Environmental Protection Agency
has approved an air permit for a potential ethanol facility in Champaign,
Illinois.
The facility would be located adjacent to the existing elevator
operation owned by The Andersons. Construction is contingent upon
finalizing funding and equity sources and final approval of the company's
Board of Directors.
"We are very pleased we are one step closer to establishing an ethanol
facility in Champaign," says President and CEO Mike Anderson.
If the project proceeds, this facility would produce 110 million
gallons of ethanol annually and 350,000 tons of distillers dried grain
(DDG), an animal feed ingredient. In addition to managing the facility, The
Andersons would provide grain origination, risk management and DDG and
ethanol marketing for the facility.
The Andersons is a significant equity investor in three ethanol plants.
The Andersons Albion Ethanol LLC, in Albion, Mich., is a 55 million gallon
plant that began operations in August 2006. The Andersons Clymers Ethanol
LLC, in Clymers, Ind., is a 110 million gallon facility that became
operational in April 2007. The Andersons Marathon Ethanol LLC, in
Greenville, Ohio, is a 110 million gallon facility currently under
construction and scheduled to be operational during the first quarter of
2008. The Andersons also serves as the manager of these facilities and
provides grain origination, risk management and DDG and ethanol marketing
services.
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.
SOURCE The Andersons, Inc.
 back to top
Related links:
http://www.andersonsinc.com/
CONTACT:
Gary L. Smith, VP, Finance & Treasurer of The
Andersons, +1-419-891-6417, gary_smith@andersonsinc.com
|
