Green Plains acquires grain elevator in northwest Missouri

by World Grain Staff
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OMAHA, NEBRASKA, U.S. — Green Plains Renewable Energy, Inc. announced on June 6 that through its wholly-owned subsidiary, Green Plains Grain Company, it has completed the acquisition of 2 million bushels of federally-licensed grain storage located in Hopkins, Missouri, U.S. previously owned by Horizon Grain of Hopkins, Inc. and GS Grain LLC. The grain elevator is located approximately 45 miles from the company's Shenandoah, Iowa, U.S. ethanol production facility.

"Expanding our agribusiness operations to further diversify our revenues and cash flows remains a priority for us in 2011," said Todd Becker, president and chief executive officer. "The close proximity to our ethanol production and grain facilities in southwest Iowa makes this elevator a solid fit within our business platform. Combining this acquisition with our existing storage capacity and the announced expansion of our Tennessee grain assets, we will have 35 million bushels of grain storage capacity within our agribusiness segment by this fall's harvest. We continue to look for additional acquisition opportunities to grow our agribusiness segment."
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