Green Plains still seeking acquisitions despite weak ethanol margins: CEO

Source: By Chris Prentice, Reuters • Posted: Friday, February 12, 2016

Biofuels manufacturer Green Plains Inc (GPRE.O) is still seeking acquisitions and organic growth despite weakened margins so far this year, the company’s chief executive said on Thursday.

The “compressed margin environment gives us the chance to add more processing assets while others may turn away,” Todd Becker, President and CEO, said on an investor conference call.

The company like others in the industry has slowed its run-rates due to weakened margins and rising inventories year-to-date, Becker said.

He projected total U.S. ethanol exports to slightly increase this year, totaling around 900 million to 1 billion gallons and said the company has not seen less foreign inquiry for U.S. ethanol even with weak oil prices.