The Andersons Albion Ethanol and Continental Carbonic Products Enter Into Supply Agreement
Oct 20, 2005
The Andersons Albion Ethanol LLC and Continental Carbonic Products, Inc. today announced that the two parties have entered into a supply agreement for the off-take of carbon dioxide (CO2) from The Andersons Albion Ethanol plant in Albion, Michigan, which is currently under construction. CO2, a co-product of the ethanol production process, is converted to liquefied CO2. Liquefied carbon dioxide (LCO2) is the feed-stock for manufacturing dry ice and is used for a wide variety of other applications.
The Andersons, Inc. is serving as manager of the ethanol plant and began construction of the 55 million gallon per year ethanol plant in mid-September and expects that plant to be operational by September 2006.
"Continental Carbonic Products is a significant force in the U.S. dry ice market," said Mr. Neill McKinstray, The Andersons' Director of Ethanol Services. "We are pleased to have them join us at our Albion Ethanol plant in Sheridan Township, and look forward to advancing our common business interests, as well as contributing to the growth and prosperity of the Albion area."
Continental Carbonic Products, Inc. (CCPI) is a leading producer of dry ice and liquid carbon dioxide and is headquartered in Decatur, Illinois. CCPI presently has 5 manufacturing facilities and 25 distribution locations east of the Rocky Mountains. The Albion plant will be CCPI's largest plant producing 340 tons of carbon dioxide products each day and will serve existing and new customers in the Michigan, Ohio, and Indiana regions.
"The Andersons are exactly the type of high quality, high integrity strategic partner we look for when we expand our business," said Robert Wiesemann II, CEO and Vice-Chairman of Continental Carbonic. "We are excited to build our new plant in partnership with The Andersons and the Albion community, where we have been welcomed so warmly."
The Andersons, Inc.
The Andersons, Inc. is located on the Internet at www.andersonsinc.com
For further information regarding The Andersons, Inc. please call 419-891-6417.
Continental Carbonic may be found on the Internet at www.continentalcarbonic.com
For further information regarding Continental Carbonic please call 217-428-2068.
SOURCE: The Andersons, Inc.
CONTACT: Gary Smith, Vice President Finance & Treasurer of The
Andersons, Inc., +1-419-891-6417, or cell, +1-419-575-2222