Marathon Oil and the Andersons, Inc. to Build 110M Gallon Ethanol Plant

16 November 2006

Marathon Oil Corporation and The Andersons, Inc. are beginning construction of an ethanol plant located in Greenville, Ohio.

The Greenville site will be the first to be constructed by The Andersons Marathon Ethanol LLC, a 50/50 joint venture between The Andersons, Inc. and Marathon Petroleum Company LLC, a wholly owned subsidiary of Marathon Oil Corporation. (Earlier post.)

The joint venture closed the purchase of property in September and received approval by the Greenville City Council for ordinances allowing zoning changes necessary for construction and extension of the enterprise zone that will support tax abatements for the project. The project recently received Ohio EPA approval for an air permit needed for plant operation.

The facility will have the annual capacity to produce 110 million gallons of ethanol and 350,000 tons of distillers dried grain (DDG), an animal feed ingredient. The facility could be operational as soon as the first quarter of 2008.

Marathon is the fourth-largest US-based fully integrated international energy company engaged in exploration and production; integrated gas; and refining, marketing and transportation operations. Marathon is the fifth-largest refiner in the US with 974,000 bpd of crude processing capacity in its seven-refinery system.

The Andersons, Inc. is a diversified company with interests in the grain, ethanol and plant nutrient sectors of US agriculture, as well as in railcar leasing and repair, turf products production, and general merchandise retailing.