US BioEnergy Begins Production at Ord, Nebraska Ethanol Facility
US BioEnergy Corporation (NASDAQ:USBE), a leading ethanol producer in the United States, announced today that its Ord, Nebraska ethanol plant has begun production. The company broke ground on the 50 million gallon per year (mmgy) ethanol plant in December 2005 and completed construction ahead of the normal 20-month schedule.
US Bio Ord, located in central Nebraska and adjacent to the Nebraska Central Railroad, is expected to produce approximately 50 million gallons of ethanol and 275,000 tons of modified wet distillers grains per year from the 15 to 18 million bushels of corn provided by local farmers. The plant has created approximately 40 new jobs in the city of Ord.
Gordon Ommen, CEO of US BioEnergy, stated, “The opening of our fourth ethanol plant demonstrates the quality and effectiveness of the US BioEnergy team, which continues to execute our strategy ahead of schedule. We remain focused on building and acquiring ethanol plants in the Midwest. By doing so, we believe we will deliver on our goals of revitalizing Midwestern communities, promoting energy independence, and delivering value to our shareholders.”
“We are thrilled to have the Ord plant up and running, and proud to have US BioEnergy as a community member. This plant is a key part of our community, providing employment, and economic opportunity to its residents,” said Gaylord Boilesen, chairman of the US Bio Ord local board.
US Bio Ord is the third plant that US BioEnergy has brought on line since September, and the fourth that the company currently operates.
About US BioEnergy Corporation
US BioEnergy Corporation is a producer and marketer of ethanol and distillers grains. The company currently owns and operates four ethanol plants and has three additional ethanol plants under construction. Upon completion of these initiatives, the company will own and operate seven plants with combined expected ethanol production capacity of 600 million gallons per year.
Forward-looking Statements
Certain matters discussed in this news release are “forward-looking statements.” The Private Securities Litigation Reform Act of 1995 has established that these statements qualify for safe harbors from liability. Forward-looking statements may include words like “believe,”"anticipate,”"target,”"expect,”"pro forma,”"estimate,”"intend,”"guidance” or words of similar meaning. Forward-looking statements describe future plans, objectives, expectations or goals. Although US BioEnergy Corporation believes that its expectations are based on reasonable assumptions, all forward-looking statements involve risk and uncertainty. Therefore, actual results could vary materially from what we expect. Please review our filings the Securities and Exchange Commission, including Annual Report on Form 10-K for the year ended December 31, 2006, for important risk factors that could cause results to differ materially from those in any such forward-looking statements. Any forward-looking statement speaks only as of the date such statement was made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement was made except as required by applicable laws or regulations.