COUNCIL BLUFFS, Iowa,
Jan. 20, 2017 /PRNewswire/ --
Southwest Iowa Renewable Energy, LLC ("SIRE" or the "Company")
announced the following:
On January 20, 2017, the SIRE
Board of Directors declared a distribution of $340 per unit to its members. The
distributions are expected to be paid on or around February 1, 2017 to members of record on
January 20, 2017. Based on the
current number of units outstanding, the total distribution will be
approximately $4.5 million.
After this distribution, SIRE will have paid a total of
$22.2 million to its investors, as
well as reducing the bank and subdebt from a high of $142.1 million on March
31, 2013 down to $27.4 million
on September 30, 2016, a reduction of
$114.7 million.
About Southwest Iowa Renewable Energy, LLC:
SIRE is located on 275 acres in Council Bluffs, Iowa, operating a 125 million
gallon per year ethanol plant. SIRE began producing ethanol in
February, 2009 and sells its ethanol, distillers grains, corn
syrup, and corn oil in the continental United States, Mexico and the Pacific Rim.
This press release contains certain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 (the "1995 Act"). Such
statements are made in good faith by SIRE and are identified as
including terms such as "may," "will," "should," "expects,"
"anticipates," "estimates," "plans," or similar
language. In connection with these safe-harbor
provisions, SIRE has identified in its Annual Report on Form 10-K ,
important factors that could cause actual results to differ
materially from those contained in any forward-looking statement
made by or on behalf of SIRE, including, without limitation, the
risk and nature of SIRE's business, and the effects of general
economic conditions on SIRE. The forward-looking statements
contained in this Press Release are included in the safe harbor
protection provided by Section 27A of the Securities Act of 1933,
as amended and Section 21E of the Securities Exchange Act of 1934,
as amended. SIRE further cautions that such factors are not
exhaustive or exclusive. SIRE does not undertake to update any
forward-looking statement which may be made from time to time by or
on behalf of SIRE.
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SOURCE Southwest Iowa Renewable Energy, LLC