US BioEnergy Corporation, one of the largest producers of ethanol in the United States, just got bigger.
The company has agreed to acquire Millennium Ethanol, which is constructing a 100 million gallon ethanol plant near Marion, South Dakota, expected to begin production in the first quarter of 2008. With this acquisition, US BioEnergy will have 8 plants in 6 states with expected total production of 700 mgy by the end of 2008.
Gordon Ommen, CEO of US BioEnergy Corporation says they are excited about having Millennium’s approximately 900 shareholders, many of whom are farmers, become shareholders of US Bio. “This fits well with our existing shareholder base, including CHS and their 325,000 farmer owners.”