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03-02-2014

Marathon Petroleum purchases biodiesel plant from Felda Iffco

Marathon Petroleum Corporation today announced that it has signed an agreement to purchase a facility in Cincinnati, Ohio from Felda Iffco Sdn Bhd, Malaysia. The plant currently produces several products including biodiesel and glycerin. The capacity of the plant is 4,100 barrels per day. The transaction is expected to close in April 2014. The details of the transaction are not being disclosed.
 
"MPC has been a producer and large blender of ethanol for many years, and this acquisition will broaden our renewable fuels portfolio with a quality asset," said Senior Vice President, Supply Distribution and Planning, Mike Palmer. "We continue to grow our biodiesel blending volumes and this acquisition will be a natural value chain fit. Also, the facility is located in the heart of MPC's Midwest assets, providing efficiencies in our product supply logistics."

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