ST. PAUL, Minn., June 1, 2015 /PRNewswire/ -- CHS Inc.
(NASDAQ: CHSCP, CHSCO, CHSCN, CHSCM, CHSCL), North America's leading farmer-owned
cooperative and a global energy, grains and foods company,
announced today it has acquired the Patriot Renewable Fuels ethanol
plant from Patriot Holdings, LLC, Annawan, Ill.
The Annawan facility produces
125 million gallons of ethanol annually, and is the second ethanol
plant that CHS has purchased. In June
2014, CHS acquired the former Illinois River Energy plant at
Rochelle, Ill.
"CHS will pursue ethanol manufacturing ownership in strategic
current and new geographies that allow us to add value for our
owners across our ag business and energy enterprise from inputs to
value-added fuel and feed ingredients to the marketplace," said
Gary Anderson, CHS senior vice
president, North America grain
marketing and renewable fuels.
Gene Griffith, Patriot Holdings,
LLC, chairman, president and CEO said CHS was a marketer of the
plant's DDGS (distillers dried grains with solubles) and ethanol
products. "CHS is the right fit to take this business to the next
level," Griffith said. "The Patriot board of directors is confident
that CHS is committed to continuing to grow the business, which
bodes well for all suppliers delivering grain to the plant."
The facility will be rebranded as CHS. Its 68 employees will
become CHS employees.
CHS Inc. (www.chsinc.com) is a leading global agribusiness owned
by farmers, ranchers and cooperatives across the United States. Diversified in energy,
grains and foods, CHS is committed to helping its customers,
farmer-owners and other stakeholders grow their businesses through
its domestic and global operations. CHS, a Fortune 100 company,
supplies energy, crop nutrients, grain marketing services, animal
feed, food and food ingredients, along with business solutions
including insurance, financial and risk management services. The
company operates petroleum refineries/pipelines and manufactures,
markets and distributes Cenex® brand refined fuels,
lubricants, propane and renewable energy products.
This document contains forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995
that are based on management's current expectations and
assumptions. These forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to
differ materially from the potential results discussed in the
forward-looking statements. The company undertakes no obligations
to publicly revise any forward-looking statements to reflect future
events or circumstances. For a discussion of additional factors
that may materially affect management's estimates and predictions,
please view the CHS Inc. annual report filed on Form 10-K for the
year ended Aug. 31, 2014, which can
be found on the Securities and Exchange Commission web site
(www.sec.gov) or on the CHS web site www.chsinc.com.
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visit:http://www.prnewswire.com/news-releases/chs-acquires-patriot-renewable-fuels-ethanol-plant-300091694.html
SOURCE CHS Inc.