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Re: nobody12378 post# 29405

Tuesday, 06/27/2017 1:08:14 PM

Tuesday, June 27, 2017 1:08:14 PM

Post# of 30375
Pacific Ethanol buys Illinois Corn Processing for $76M

Pacific Ethanol (NASDAQ:PEIX) agrees to acquire Seacor Holdings (NYSE:CKH) subsidiary Illinois Corn Processing for $76M in cash and notes.

PEIX says the deal will add 90M gal/year of production capacity, diversifies fuel ethanol production with high-value beverage and industrial grade alcohol, expands export opportunities, and is expected to be immediately accretive to earnings.

PEIX also says the consolidation of ICP's manufacturing, storage and distribution facility adjacent to its Pekin, Ill., plant integrates the facilities into a combination of technologies and products with a combined operating capacity of 250M gal/year.
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