Green Plains Renewable Energy announced today its acquisition of a grain storage facility located in Hopkins, Missouri. The grain storage facility can house up to 2 million bushels of grain and was formerly owned by Horizon Grain of Hopkins, Inc and GS Grain LLC. The grain elevator is located about 45 minutes from Green Plains’ ethanol biorefinery in Shenandoah, Iowa.
“Expanding our agribusiness operations to further diversify our revenues and cash flows remains a priority for us in 2011,” stated 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.”