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BREAKING NEWS

Co-op merger OK’d – Great Lakes members agree to merger with Green Plains

By Staff | Feb 5, 2008

Over 80 percent of members voting approved a proposed merger between Great Lakes Cooperative and Green Plains Renewable Energy, Inc., Great Lakes Cooperative Manager Kevin Hartkemeyer said Monday.

Monday was the last day for members to vote on the merger. Green Plains Renewable Energy, Inc., purchased the Superior Ethanol plant scheduled to begin production in March. A plant in Shenandoah began production last August. Both plants are rated to produce 50 million gallons of ethanol per year.

Hartkemeyer said 892 members out of 1,133 eligible cast ballots, with 718 voting in favor and 174 against the merger.

“We felt very good about that,” Hartkemeyer said of the percentage by which members approved the measure. A minimum of two-thirds approval was required.

Hartkemeyer said he was not surprised though that members approved the merger by such a large margin. “This was such a good deal,” he said.

Hartkemeyer said there will be no changes in the day-to-day operations of the elevator. He said Green Plains is building a new soybean building at the Gruver location.

Great Lakes Cooperative has locations in Milford, Everly, Superior, Milford, Langdon, Greenville, Spencer, and Gruver.



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