MAUMEE, Ohio, Oct. 20 /PRNewswire-FirstCall/ -- The Andersons Albion
Ethanol LLC and Continental Carbonic Products, Inc. today announced that the
two parties have entered into a supply agreement for the off-take of carbon
dioxide (CO2) from The Andersons Albion Ethanol plant in Albion, Michigan,
which is currently under construction. CO2, a co-product of the ethanol
production process, is converted to liquefied CO2. Liquefied carbon dioxide
(LCO2) is the feed-stock for manufacturing dry ice and is used for a wide
variety of other applications.
The Andersons, Inc. is serving as manager of the ethanol plant and began
construction of the 55 million gallon per year ethanol plant in mid-September
and expects that plant to be operational by September 2006.
"Continental Carbonic Products is a significant force in the U.S. dry ice
market," said Mr. Neill McKinstray, The Andersons' Director of Ethanol
Services. "We are pleased to have them join us at our Albion Ethanol plant in
Sheridan Township, and look forward to advancing our common business
interests, as well as contributing to the growth and prosperity of the Albion
area."
Continental Carbonic Products, Inc. (CCPI) is a leading producer of dry
ice and liquid carbon dioxide and is headquartered in Decatur, Illinois. CCPI
presently has 5 manufacturing facilities and 25 distribution locations east of
the Rocky Mountains. The Albion plant will be CCPI's largest plant producing
340 tons of carbon dioxide products each day and will serve existing and new
customers in the Michigan, Ohio, and Indiana regions.
"The Andersons are exactly the type of high quality, high integrity
strategic partner we look for when we expand our business," said Robert
Wiesemann II, CEO and Vice-Chairman of Continental Carbonic. "We are excited
to build our new plant in partnership with The Andersons and the Albion
community, where we have been welcomed so warmly."
The Andersons, Inc. (Nasdaq: ANDE), is a diversified company with
interests in the grain and plant nutrient sectors of U.S. agriculture, as well
as in railcar marketing, industrial materials formulation, turf products
production, and general merchandise retailing. Founded in Maumee, Ohio, in
1947, the company presently has operations in seven U.S. states plus rail
equipment leasing interests in Canada and Mexico. Total revenues in 2004 were
$1.3 billion.
The Andersons, Inc. is located on the Internet at http://www.andersonsinc.com
For further information regarding The Andersons, Inc. please call
419-891-6417.
Continental Carbonic may be found on the Internet at
http://www.continentalcarbonic.com
For further information regarding Continental Carbonic please call
217-428-2068.
SOURCE The Andersons, Inc.
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Related links:
http://www.andersonsinc.com
http://www.continentalcarbonic.com
CONTACT:
Gary Smith, Vice President Finance &
Treasurer of The Andersons, Inc., +1-419-891-6417, or cell,
+1-419-575-2222
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