Green Plains Completes Sale of Hereford, Texas Plant
Green Plains Inc. (NASDAQ:GPRE) announced the sale of its Hereford, Texas ethanol plant to Hereford Ethanol Partners, L.P. for $39 million, plus working capital.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Green Plains Inc. (NASDAQ:GPRE) announced the sale of its Hereford, Texas ethanol plant to Hereford Ethanol Partners, L.P. for $39 million, plus working capital. An earnout provision of up to $75 million based on future earnings related to Low Carbon Fuel Standard credits is included. The company also reported the sale of storage assets for $10 million, with proceeds used to repay debt. With a focus on sustainable biofuels and grain processing, Green Plains remains committed to its diversified operations.
Positive
- Completed the sale of ethanol plant for $39 million, improving liquidity.
- Potential for up to $75 million in future earnings from earnout provision.
- Sale of storage assets for $10 million contributes to debt repayment.
Negative
- None.
Details
News Market Reaction – GPRE
The recorded move for GPRE in the trading session of this news was -1.03%.
Data tracked by StockTitan Argus. Session date unavailable.
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OMAHA, Neb., Dec. 28, 2020 (GLOBE NEWSWIRE) -- Green Plains Inc. (NASDAQ:GPRE) today announced that its subsidiary, Green Plains Hereford LLC, has completed the previously announced sale of its ethanol plant located in Hereford, Texas, to Hereford Ethanol Partners, L.P. for
About Green Plains Inc.
Green Plains Inc. (NASDAQ:GPRE) is a diversified commodity-processing business with operations that include corn processing, grain handling and storage and commodity marketing and logistics services. The company is one of the leading corn processors in the world and, through its adjacent businesses, is focused on the production of sustainable biofuels and sustainable high protein and novel feed ingredients. Green Plains owns a
About Green Plains Partners LP
Green Plains Partners LP (NASDAQ:GPP) is a fee-based Delaware limited partnership formed by Green Plains Inc. to provide fuel storage and transportation services by owning, operating, developing and acquiring ethanol and fuel storage terminals, transportation assets and other related assets and businesses. For more information about Green Plains Partners, visit www.greenplainspartners.com.
Green Plains Inc. Contacts
Investors: Phil Boggs | Senior Vice President, Investor Relations | 402.884.8700 | phil.boggs@gpreinc.com
Media: Leighton Eusebio | Manager, Public Relations | 402.952.4971 | leighton.eusebio@gpreinc.com
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