to-the-point: Green Plains completes purchase of Texas ethanol plant

US ethanol producer Green Plains Inc (NASDAQ:GPRE) on Thursday said it has completed the acquisition of the ethanol plant in Hereford, Texas, announced at the start of the month.

The 100-million-gallon (378.5 million litre) facility is Green Plains' 14th ethanol plant and brings its total production capacity to more than 1.2 billion gallons per year.

The company bought the plant from gasoline retailer Murphy USA Inc (NYSE:MUSA) for USD 93.8 million (EUR 87.1m), including working capital. The facility's transportation and storage assets will be offered to Green Plains' master limited partnership, Green Plains Partners LP (NASDAQ:GPP).

(USD 1.0 = EUR 0.929)

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