Maumee, Ohio — The Andersons Inc. has signed an agreement to acquire an ethanol production facility in Denison, Iowa, from its owners, Amaizing Energy Denison LLC and Amaizing Energy Holding Company LLC. The transaction, which remains subject to several contingencies, is anticipated to close in the second quarter. If acquired, the plant would be owned by The Andersons Denison Ethanol LLC, a wholly-owned subsidiary of The Andersons, Inc. "As our first ethanol plant west of the Mississippi, this facility provides us with geographic diversity into some of the best corn ground in the country," says Neill McKinstray, Ethanol Group president. "This purchase enables us to expand our ethanol production, marketing, and services into a new region providing arbitrage and risk management opportunities with the three existing plants we manage while leveraging existing administrative staff to a fourth plant. With much of the same technology in all four plants, we expect to bring additional efficiencies to drive down our cost per gallon, and maximize returns to shareholders as we have successfully demonstrated during the past five years." CEO Mike Anderson added, "This is a well-respected, well-run organization that brings with it a solid customer base in a geographic area that we are looking forward to serving. This ethanol facility enables us to offer our grain marketing expertise and the associated services to grain producers in Iowa and fits well with our existing presence as an investor in the Iowa Northern Railway Co. and our merchandising relationship with Lansing Trade Group." The operations consist of an ethanol facility with an adjacent 2.7 million bushel grain terminal, both with direct access to two Class 1 railroads in Iowa.
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