{"id":390574,"date":"2020-12-01T08:33:18","date_gmt":"2020-12-01T13:33:18","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=390574"},"modified":"2020-12-01T08:33:18","modified_gmt":"2020-12-01T13:33:18","slug":"pacific-ethanol-closes-sale-of-its-idaho-grain-handling-facilities","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pacific-ethanol-closes-sale-of-its-idaho-grain-handling-facilities\/","title":{"rendered":"Pacific Ethanol Closes Sale of its Idaho Grain Handling Facilities"},"content":{"rendered":"
\n

SACRAMENTO, Calif., Dec. 01, 2020 (GLOBE NEWSWIRE) — Pacific <\/strong>Ethanol, Inc. (NASDAQ: PEIX)<\/strong>, a leading producer of specialty alcohols and essential ingredients, announced the closing of its agreement with Liberty Basin, LLC to sell 134 acres, rail loop and grain handling assets at its Pacific Ethanol Magic Valley plant in Burley, Idaho for $10 million in cash. Pacific Ethanol is retaining the ethanol plant and terminal on the remaining 25 acres and has entered into agreements with Liberty Basin, LLC for ongoing coordination of operations and delivery of grain to the ethanol plant.<\/p>\n

\u201cThe sale of real estate and grain handling assets at our Magic Valley facility marks further progress in our strategic realignment around higher, more stable margins in specialty alcohols and essential ingredients,\u201d said Mike Kandris, Pacific Ethanol\u2019s CEO. \u201cWith this sale we further strengthened our balance sheet by using all net sale proceeds to pay down term debt. We will continue to own the production facility and plan to upgrade the product offerings prior to restarting production.\u201d<\/p>\n

\n About Pacific Ethanol, Inc.<\/strong>\n <\/p>\n

Pacific Ethanol, Inc. (PEIX) is a leading producer of specialty alcohols and essential ingredients. The company is focused on products for four key markets: Health, Home & Beauty, Food & Beverage, Essential Ingredients and Renewable Fuels. The company\u2019s customers include major food and beverage companies and consumer products companies. Pacific Ethanol\u2019s subsidiary, Kinergy Marketing LLC, markets all specialty alcohol products for Pacific Ethanol\u2019s distilleries as well as fuel grade ethanol for third parties. Pacific Ethanol\u2019s subsidiary, Pacific Ag. Products LLC, markets wet and dry distillers grains. For more information please visit\u00a0www.pacificethanol.com<\/a>.<\/p>\n

\n
\n Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995<\/u>
\n <\/strong>
\n
Statements and information contained in this communication that refer to or include Pacific Ethanol\u2019s estimated or anticipated future results or other non-historical expressions of fact are forward-looking statements that reflect Pacific Ethanol\u2019s current perspective of existing trends and information as of the date of the communication. Forward looking statements generally will be accompanied by words such as \u201canticipate,\u201d \u201cbelieve,\u201d \u201cplan,\u201d \u201ccould,\u201d \u201cshould,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cforecast,\u201d \u201coutlook,\u201d \u201cguidance,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201cwill,\u201d \u201cpossible,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cproject,\u201d or other similar words, phrases or expressions. Such forward-looking statements include, but are not limited to, statements concerning Pacific Ethanol\u2019s plans to upgrade product offerings at its Pacific Ethanol Magic Valley distillery prior to restarting production; Pacific Ethanol\u2019s new business focus and its effects; Pacific Ethanol\u2019s ability to obtain additional regulatory qualifications and their effects; Pacific Ethanol\u2019s intentions to sell or repurpose its idled distilleries; and Pacific Ethanol\u2019s other plans, objectives, expectations and intentions. It is important to note that Pacific Ethanol\u2019s plans, objectives, expectations and intentions are not predictions of actual performance. Actual results may differ materially from Pacific Ethanol\u2019s current expectations depending upon a number of factors affecting Pacific Ethanol\u2019s business. These factors include, among others, adverse economic and market conditions, including for specialty alcohols and essential ingredients; export conditions and international demand for the company\u2019s products; fluctuations in the price of and demand for oil and gasoline; raw material costs, including production input costs, such as corn and natural gas; the effects \u2013 both positive and negative \u2013 of the novel coronavirus; and the ability of Pacific Ethanol to timely and successfully execute on its strategic realignment and new business focus. These factors also include, among others, the inherent uncertainty associated with financial and other projections; the anticipated size of the markets and continued demand for Pacific Ethanol\u2019s products; the impact of competitive products and pricing; the risks and uncertainties normally incident to the specialty alcohol production and marketing industries; changes in generally accepted accounting principles; successful compliance with governmental regulations applicable to Pacific Ethanol\u2019s distilleries, products and\/or businesses; changes in laws, regulations and governmental policies; the loss of key senior management or staff; and other events, factors and risks previously and from time to time disclosed in Pacific Ethanol\u2019s filings with the Securities and Exchange Commission including, specifically, those factors set forth in the \u201cRisk Factors\u201d section contained in Pacific Ethanol\u2019s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 16, 2020.<\/p>\n\n\n\n\n\n\n
\n Company IR Contact:<\/strong>\n <\/td>\n\n IR Agency Contact:<\/strong>\n <\/td>\n\n Media Contact:<\/strong>\n <\/td>\n<\/tr>\n
Pacific Ethanol, Inc.<\/td>\nMoriah Shilton<\/td>\nPaul Koehler<\/td>\n<\/tr>\n
916-403-2755<\/td>\nLHA<\/td>\nPacific Ethanol, Inc.<\/td>\n<\/tr>\n
Investorrelations@pacificethanol.com<\/td>\n415-433-3777<\/td>\n916-403-2790<\/td>\n<\/tr>\n
\u00a0<\/td>\npaulk@pacificethanol.com<\/td>\n<\/tr>\n<\/table>\n

\u00a0<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

SACRAMENTO, Calif., Dec. 01, 2020 (GLOBE NEWSWIRE) — Pacific Ethanol, Inc. (NASDAQ: PEIX), a leading producer of specialty alcohols and essential ingredients, announced the closing of its agreement with Liberty Basin, LLC to sell 134 acres, rail loop and grain handling assets at its Pacific Ethanol Magic Valley plant in Burley, Idaho for $10 million in cash. Pacific Ethanol is retaining the ethanol plant and terminal on the remaining 25 acres and has entered into agreements with Liberty Basin, LLC for ongoing coordination of operations and delivery of grain to the ethanol plant. \u201cThe sale of real estate and grain handling assets at our Magic Valley facility marks further progress in our strategic realignment around higher, more stable margins in … <\/p>\n

Continue reading “Pacific Ethanol Closes Sale of its Idaho Grain Handling Facilities”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-390574","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPacific Ethanol Closes Sale of its Idaho Grain Handling Facilities - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pacific-ethanol-closes-sale-of-its-idaho-grain-handling-facilities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pacific Ethanol Closes Sale of its Idaho Grain Handling Facilities - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SACRAMENTO, Calif., Dec. 01, 2020 (GLOBE NEWSWIRE) — Pacific Ethanol, Inc. (NASDAQ: PEIX), a leading producer of specialty alcohols and essential ingredients, announced the closing of its agreement with Liberty Basin, LLC to sell 134 acres, rail loop and grain handling assets at its Pacific Ethanol Magic Valley plant in Burley, Idaho for $10 million in cash. Pacific Ethanol is retaining the ethanol plant and terminal on the remaining 25 acres and has entered into agreements with Liberty Basin, LLC for ongoing coordination of operations and delivery of grain to the ethanol plant. \u201cThe sale of real estate and grain handling assets at our Magic Valley facility marks further progress in our strategic realignment around higher, more stable margins in … Continue reading "Pacific Ethanol Closes Sale of its Idaho Grain Handling Facilities"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/pacific-ethanol-closes-sale-of-its-idaho-grain-handling-facilities\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-01T13:33:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5NDUxOCMzODQ5ODE0IzIwMDcxMDE=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pacific-ethanol-closes-sale-of-its-idaho-grain-handling-facilities\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pacific-ethanol-closes-sale-of-its-idaho-grain-handling-facilities\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Pacific Ethanol Closes Sale of its Idaho Grain Handling Facilities\",\"datePublished\":\"2020-12-01T13:33:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pacific-ethanol-closes-sale-of-its-idaho-grain-handling-facilities\\\/\"},\"wordCount\":738,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pacific-ethanol-closes-sale-of-its-idaho-grain-handling-facilities\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA5NDUxOCMzODQ5ODE0IzIwMDcxMDE=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pacific-ethanol-closes-sale-of-its-idaho-grain-handling-facilities\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pacific-ethanol-closes-sale-of-its-idaho-grain-handling-facilities\\\/\",\"name\":\"Pacific Ethanol Closes Sale of its Idaho Grain Handling Facilities - 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