The company expanded its distribution capabilities by opening three terminals. In early June, the company announced new terminal capabilities at its partially-completed biorefinery in Clovis, New Mexico. Biodiesel sales from the Clovis terminal commenced in early July. Also in late June, the company announced a new terminal in Lebanon Ohio, which is in the southwest corner of the state serving Ohio, Indiana and Kentucky. The terminal is located adjacent to terminals owned by major diesel marketers, and enables efficient blending for local petroleum jobbers. In the later part of July, the company entered into an agreement with Maxum Petroleum to offer REG-9000® at its terminal in Long Beach, California with sales commencing in mid-August.The company also benefited this quarter from an additional 50 million gallons of annual capacity becoming available in combination from both the Albert Lea facility, which was purchased in July 2011, and the completion of the third production line at the Seneca facility, which was initially brought online earlier this year.
Renewable Energy Group Reports Second Quarter 2012 Financial Results
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