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Posted on  

April 10, 2001

High Plains Proceeds with Production Expansion and Stock Buyback

High Plains Corporation has announced that it has received initial responses from Nebraska regulatory agencies indicating that permits necessary for the proposed expansion of the Company's York, Nebraska ethanol facility should be issued by June. Permit issuance should allow the project to proceed on, or even ahead of schedule, with projected completion of the 12 million gallon per year expansion expected before the end of this calendar year.

"We are pleased with the prompt response by the state of Nebraska to our permit requests," stated Gary R. Smith, President and CEO of High Plains. "Industry economics are strong, and there is a need to expand ethanol production as quickly as possible to keep up with increasing demand. Nebraska's agencies not only processed our requests in a timely manner, but have also identified areas of the project that we can pursue now, without additional permit modifications. As a result, we expect to see some production improvements almost immediately, phasing in to the completion of the full expansion before calendar year end," he said.

In addition to this 33 percent production capacity expansion in Nebraska, the Company also has obtained 2,000,000 gallons of additional production at the Colwich, Kansas plant, removing bottlenecks to allow more efficient operation and higher production levels for relatively small costs.  

 

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