Marathon and The Anderson’s Ohio ethanol plant begins production
Wednesday, Feb 13, 2008
MAUMEE, Ohio and HOUSTON, Feb. 11 /PRNewswire-FirstCall/ -- The Andersons, Inc. (Nasdaq: ANDE) and Marathon Oil Corporation (NYSE: MRO) today jointly announced ethanol production has begun at their 110-million gallon ethanol plant located in Greenville, Ohio.
The plant was constructed by The Andersons Marathon Ethanol LLC, a 50/50 joint venture between The Andersons Ethanol Investment LLC, a subsidiary of The Andersons, Inc., and Marathon Petroleum Company LLC, a wholly owned subsidiary of Marathon Oil Corporation. Construction on the facility began in November 2006.
"We are pleased to be opening the third ethanol plant in which we have an investment and for which we are providing management and other services," says Mike Anderson, President and CEO of The Andersons, Inc. "Locating in Darke County, the largest corn-producing county in the state, is ideal and the community's reception has been exceptional. In addition to providing a viable alternative fuel source for our country, we look forward to serving the local farming community through corn sourcing and high-quality distillers dried grains."
"Marathon has been blending ethanol fuels for more than 15 years and is among the largest blenders of ethanol in the United States," said Gary R. Heminger, executive vice president of Marathon Oil Corporation and president of the company's refining, marketing and transportation operations. "As a partner in the Greenville facility, the largest ethanol plant in Ohio, Marathon is one of the first U.S. oil companies to initiate its own ethanol production operations. We also are a leader in quality testing of ethanol and a pioneer in creating the distribution infrastructure necessary to make ethanol available in the Midwest and Southeast."
Along with the 110 million gallons of ethanol, the plant annually will produce 350,000 tons of distillers dried grains, an animal feed ingredient. The facility will employ a workforce of 45.
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 www.andersonsinc.com.
Marathon is the fourth-largest U.S.-based fully integrated international energy company engaged in exploration and production; integrated gas; oil sands mining; and refining, marketing and transportation operations. The Company has exploration and production activities in the United States, the United Kingdom, Angola, Canada, Equatorial Guinea, Gabon, Indonesia, Ireland, Libya and Norway. Marathon is the fifth largest refiner in the U.S. with 974,000 bpd of crude processing capacity in its seven-refinery system. The Company's retail marketing system comprises approximately 6,000 locations in 18 states; nearly three-quarters are Marathon brand locations. Marathon serves the Midwest and Southeast as a petroleum products marketer with 85 light product and asphalt terminals and the Company owns, operates, leases or has an ownership interest in approximately 9,900 miles of pipeline.
Source: PR Newswire