MAUMEE, Ohio, Dec. 21, 2015 /PRNewswire/ -- The Andersons, Inc. (Nasdaq: ANDE) today announced it will commence expansion of the facility owned by The Andersons Albion Ethanol LLC, Albion, Mich., doubling the facility's capacity.
"The supply and demand situation in Michigan relative to corn and ethanol is very favorable," explains CEO Pat Bowe. "Advancements in farm practices and technology continue to increase the size of Michigan's corn crop and enhance its quality. This added production capacity enables more ethanol to be produced and used in the state.
"This dynamic," he continues, "combined with the highly efficient operations at the Albion facility, makes it a compelling investment for expansion."
The facility, built by ICM, Inc. of Colwich, Kansas in 2006, was engineered for future expansion. ICM, Inc. is contracted to build the expansion, which is scheduled to be completed in April 2017. Approximately 10 new full-time production positions will be added when the new capacity becomes operational.
Managed and operated by The Andersons, The Andersons Albion Ethanol LLC is co-owned by Marathon Petroleum Corporation, Findlay, Ohio.
About The Andersons, Inc.
Founded in Maumee, Ohio, in 1947, The Andersons is a diversified company rooted in agriculture conducting business across North America in the grain, ethanol, plant nutrient and rail sectors. The Company also has a consumer retailing presence. For more information, visit The Andersons online at www.andersonsinc.com.
SOURCE The Andersons, Inc.