IRVING, Texas, Dec. 26, 2014 /PRNewswire/ -- Darling
Ingredients Inc. (NYSE: DAR) announced today that
it expects to benefit from the newly signed into law Tax
Increase Prevention Act of 2014, which reinstated retroactively the
federal biodiesel mixture excise tax credit for 2014. The amount of
the retroactive credit for Fiscal 2014 is estimated to result in a
net benefit to Darling of approximately $65
million. A significant portion of this credit will be
attributable to Diamond Green
Diesel, Darling's 50/50 joint venture with Valero Energy
Services Corporation. It is anticipated that Diamond Green Diesel will use a portion of the
proceeds to retire debt, with the excess proceeds to be distributed
as a dividend to its joint venture partners.
About Darling
Darling Ingredients Inc. is the world's largest publicly-traded
developer and producer of sustainable natural ingredients from
edible and inedible bio-nutrients, creating a wide range of
ingredients and customized specialty solutions for customers in the
pharmaceutical, food, pet food, feed, technical, fuel, bioenergy
and fertilizer industries. With operations on five continents, the
Company collects and transforms all aspects of animal by-product
streams into useable and specialty ingredients, such as gelatin,
edible fats, feed-grade fats, animal proteins and meals, plasma,
pet food ingredients, organic fertilizers, yellow grease, fuel
feedstocks, green energy, natural casings and hides. The
Company also recovers and converts used cooking oil and commercial
bakery residuals into valuable feed and fuel ingredients. In
addition, the Company provides grease trap services to food service
establishments, environmental services to food processors and sells
restaurant cooking oil delivery and collection equipment. For
additional information, visit the Company's website at
http://ir.darlingii.com.
{This media release contains "forward-looking" statements
regarding the business operations and prospects of Darling
Ingredients Inc. and industry factors affecting it. These
statements are identified by words such as "believe,"
"anticipate," "expect," "estimate," "intend," "could," "may,"
"will," "should," "planned," "potential," "continue," "momentum,"
and other words referring to events that may occur in the
future. These statements reflect Darling Ingredient's current
view of future events and are based on its assessment of, and are
subject to, a variety of risks and uncertainties beyond its
control, each of which could cause actual results to differ
materially from those indicated in the forward-looking
statements. These factors include, among others, existing and
unknown future limitations on the ability of the Company's direct
and indirect subsidiaries to upstream their profits to the Company
for payments on the Company's indebtedness or other purposes;
general performance of the U.S. and global economies; disturbances
in world financial, credit, commodities and stock markets;
any decline in consumer confidence and discretionary spending,
including the inability of consumers and companies to obtain credit
due to lack of liquidity in the financial markets; volatile prices
for natural gas and diesel fuel; climate conditions; unanticipated
costs or operating problems related to the acquisition and
integration of Rothsay and Darling Ingredients International
(including transactional costs and integration of the new
enterprise resource planning (ERP) system); global demands for
bio-fuels and grain and oilseed commodities, which have exhibited
volatility, and can impact the cost of feed for cattle, hogs and
poultry, thus affecting available rendering feedstock and selling
prices for the Company's products; reductions in raw material
volumes available to the Company due to weak margins in the meat
production industry as a result of higher feed costs, reduced
consumer demand or other factors, reduced volume from food service
establishments, reduced demand for animal feed, or
otherwise; reduced finished product prices; changes
to worldwide government policies relating to renewable fuels and
greenhouse gas emissions that adversely affect programs like the
National Renewable Fuel Standard Program (RFS2) and tax credits for
biofuels both in the U.S. and abroad; possible product
recall resulting from developments relating to the discovery of
unauthorized adulterations to food or food
additives; the occurrence of Bird Flu including, but not
limited to H1N1 flu, bovine spongiform encephalopathy (or "BSE"),
porcine epidemic diarrhea ("PED") or other diseases associated with
animal origin in the U.S. or elsewhere; unanticipated
costs and/or reductions in raw material volumes related to the
Company's compliance with the existing or unforeseen new U.S. or
foreign regulations (including, without limitation, China) affecting the industries in which the
Company operates or its value added products (including new or
modified animal feed, Bird Flu, PED or BSE or similar or
unanticipated regulations); risks associated with the
renewable diesel plant in Norco,
Louisiana owned and operated by a joint venture between
Daring Ingredients and Valero Energy Corporation, including
possible unanticipated operating disruptions; risks relating to
possible third party claims of intellectual property infringement;
increased contributions to the Company's pension and benefit plans,
including multiemployer and employer-sponsored defined benefit
pension plans as required by legislation, regulation or other
applicable U.S. or foreign law or resulting from a U.S. mass
withdrawal event; bad debt write-offs; loss of or failure to obtain
necessary permits and registrations; continued or escalated
conflict in the Middle East,
North Korea, Ukraine or elsewhere; and/or unfavorable
export or import markets. Other risks and uncertainties
regarding Darling Ingredients Inc., its business and the industries
in which it operates are referenced from time to time in the
Company's filings with the Securities and Exchange Commission.
Darling Ingredients Inc. is under no obligation to (and expressly
disclaims any such obligation to) update or alter its
forward-looking statements whether as a result of new information,
future events or otherwise.}
For More Information, contact:
Melissa A. Gaither, Director
Investor Relations, Phone: +1-972-717-0300