Pine Lake Corn Processors Extends Ethanol Marketing Agreement with Murex LLC
DALLAS, Feb. 4, 2014 /PRNewswire/ — Pine Lake Corn Processors LLC has extended its ethanol marketing agreement with Murex LLC. Pine Lake originally hired Murex as their ethanol marketer in May 2012. Per the agreement, Murex will purchase 100% of Pine Lake’s production and move it to market. Together, Murex and Pine Lake have opened the plant to export opportunities that have allowed higher returns on its ethanol.
According to James Broghammer, CEO of Pine Lake, “Murex has played a very important role in PLCP’s financial success over the past two years.”
“Murex is privileged to represent Pine Lake in the marketplace. We look forward to the continued success this partnership with Pine Lake has afforded both parties in the past,” commented Robert C. Wright, President of Murex, on the marketing agreement.
Murex LLC, headquartered in Addison, Texas, markets and distributes domestic ethanol, export ethanol, renewable identification numbers (RINs), crude oil and gasoline blendstocks to major oil companies and regional refineries. Murex is the nation’s leading ethanol exporter, with an export terminal position that is unmatched in the industry. With over 20 million gallons of dedicated coastal storage capacity, Murex allows US producers access to South America, Europe, Africa, the Middle East and the Far East. More information on Murex is available at www.murexltd.com.
Pine Lake Corn Processors LLC operates a 30-million gallon per year ethanol plant in Steamboat Rock, Iowa. More information about Pine Lake can be found at www.pinelakecorn.com.
SOURCE Murex LLC