MAUMEE, Ohio, July 9 /PRNewswire-FirstCall/ -- The Andersons, Inc. 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/.
The Andersons, Inc.
CONTACT: Gary L. Smith, VP, Finance & Treasurer of The Andersons,
+1-419-891-6417, gary_smith@andersonsinc.com
Web site: http://www.andersonsinc.com/
