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Posted on  

High Plains Sells Ethanol Plant

High Plains Corporation recently announced it will sell its ethanol production facility in Portales, NM, to Natural Chem Industries, a New Mexico limited liability company.

"Ownership of the Portales plant did not fit with our long-term vision for the company," said High Plains president and CEO Gary Smith. "Internal strategic planning efforts have led us to focus on
diversifying and improving our Colwich, Kansas and York, Nebraska facilities, where we have ongoing projects in areas other than just fuel grade ethanol."

The Portales plant is the smallest of High Plains' three production facilities. Acquired in December 1997, the Portales plant produces ethanol at a rate of about 14 million gallons per year compared to the Colwich and York facilities which have an annual production rate of 18 and 37 million gallons respectively.

"Our New Mexico employees have worked hard to turn the plant into a reliable, efficient operation," said Smith. "We are pleased to announce that Natural Chem intends to continue to operate the plant in its current location. This should allow them to retain the valued employees and customer base cultivated through our efforts.

High Plains will market the ethanol from Portales for a period of three years as a part of the sales agreement.

Contact: Gary Smith, High Plains, phone 316-269-4310.



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