CHS expands soybean crush and production capacity
Renovation at Minnesota plant will expand farmers market access and improve safety
ST. PAUL, Minn., Sept. 19, 2019 /PRNewswire/ -- CHS Inc. (NASDAQ: CHSCP) today announced plans for a significant renovation at its Fairmont, Minn., soybean processing plant. The expansion will increase market access for regional soybean growers and return value to its owners through increased production of high-demand soy-based food and feed ingredients.
"CHS is always looking for ways to expand market access for farmers' crops and improve operational efficiencies. This renovation project will deliver value on several fronts," says Scott Erdal, director, risk management and business development. "The processing expansion and improvements will allow CHS to grow market access, add value to our owners, capitalize on consumer demand for protein and ensure continued safe operations for our employees and the communities where CHS does business."
The operational and safety improvements will increase the Fairmont plant's soybean crush and soybean oil production capacity, enhance product quality and optimize production at the CHS soybean refinery at Mankato, Minn.
Soybeans grown by area farmers are processed into oil at the Fairmont facility and transported to the Mankato processing plant for further refining. CHS Processing and Food Ingredients serves food and feed ingredient companies across the U.S. and many export destinations.
"Regional livestock expansion has created new demand for quality soybean meal. This project will increase crush capacity at Fairmont and help us optimize our Mankato soy crush and refining platform," Erdal says.
Construction is underway, and completion is expected by fall 2021.
CHS Inc. (www.chsinc.com) is a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States. Diversified in energy, agronomy, grains and foods, CHS is committed to helping its customers, farmer-owners and other stakeholders grow their businesses through its domestic and global operations. CHS supplies energy, crop nutrients, grain marketing services, animal feed, food and food ingredients along with financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products.
This document and other CHS Inc. publicly available documents contain, and CHS officers and representatives may from time to time make, "forward–looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Report Act of 1995. Forward–looking statements can be identified by words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Forward–looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on CHS current beliefs, expectations and assumptions regarding the future of its businesses, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward–looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of CHS control. CHS actual results and financial condition may differ materially from those indicated in the forward–looking statements. Therefore, you should not rely on any of these forward–looking statements. Important factors that could cause CHS actual results and financial condition to differ materially from those indicated in the forward–looking statements are discussed or identified in CHS public filings made with the U.S. Securities and Exchange Commission, including in the "Risk Factors" discussion in Item 1A of CHS Annual Report on Form 10–K for the fiscal year ended August 31, 2018. Any forward–looking statements made by CHS in this document are based only on information currently available to CHS and speak only as of the date on which the statement is made. CHS undertakes no obligation to publicly update any forward–looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
SOURCE CHS Inc.