US BioEnergy opens 110 Mgy corn ethanol plant in South Dakota

In South Dakota, US BioEnergy Corporation announced that its 110 Mgy corn ethanol plant in Marion began production this week. The plant had been acquired in August 2007 while under construction. The plant has an additional capacity of 320,000 tons of distillers grains.

Last year, US Bioenergy acquired Millennium Ethanol. The Millenium acquisition brought the St. Paul-based US BioEnergy’s holdings to five ethanol plants, with an additional three under construction, including the  Millenium plant in Marion that has now opened.

US BioEnergy (USBE) reported third quarter profits of $11.1 million in $148.9 million in revenues. Third quarter profits in 2006 were $8.3 million on revenues of $154.4 million. The company said that effective cost-controls and feedstock hedging allowed it to increase profits during a turbulent period for the industry. Wall Street analysts had expected earnings of $6 million in revenues of $155 million.

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