Green Plains Renewable Energy INC. (GPRE)

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Green Plains Acquires 2MM Bushel Storage Facility

Green Plains Expands Agribusiness Operations With Acquisition of Grain Elevator in Northwest Missouri


Press Release Source: Green Plains Renewable Energy On Monday June 6, 2011, 8:30 am EDT

OMAHA, Neb., June 6, 2011 (GLOBE NEWSWIRE) -- Green Plains Renewable Energy, Inc. (Nasdaq:GPRE - News) announces today that through its wholly-owned subsidiary, Green Plains Grain Company, it has completed the acquisition of 2 million bushels of federally-licensed grain storage located in Hopkins, Missouri previously owned by Horizon Grain of Hopkins, Inc and GS Grain LLC. The grain elevator is located approximately 45 miles from the Company's Shenandoah, Iowa ethanol production facility.

"Expanding our agribusiness operations to further diversify our revenues and cash flows remains a priority for us in 2011," stated Todd Becker, President and Chief Executive Officer. "The close proximity to our ethanol production and grain facilities in southwest Iowa makes this elevator a solid fit within our business platform. Combining this acquisition with our existing storage capacity and the announced expansion of our Tennessee grain assets, we will have 35 million bushels of grain storage capacity within our agribusiness segment by this fall's harvest. We continue to look for additional acquisition opportunities to grow our agribusiness segment."