MGP Ingredients outlines new focus on risk, value after falling into loss

In Kansas, MGP Ingredients CEO Tim Newkirk outlined a new direction for the company following its first reported loss in 10 years as the result of rising feedstock costs and falling ethanol prices. “we typically placed greater emphasis on pounds and gallons instead of problem-solving; on production instead of asset utilization; and on invention instead of commercialization…Managing risk has become a top strategic initiative… In fuel grade alcohol we will be opportunistic with production and pricing while continuing to offset commodity swings with hedging and contracting. The company owns a 78 Mgy plant in Pekin, IL and a 4 Mgy plant in Atchinson, KS.

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