IRVING, Texas, April 7, 2016 /PRNewswire/ -- Darling Ingredients
Inc. (NYSE: DAR) announced today an expansion of the Diamond Green
Diesel (DGD) facility in Norco,
LA. DGD is the Company's joint venture with Valero Energy
Corporation. The expansion will grow the facility's annual
production capacity from 160 million gallons of renewable diesel to
275 million gallons. The incremental cost per gallon of renewable
diesel production for the expansion is estimated to be
approximately one-half of the green field construction cost due to
significant logistics and processing facilities already in place.
This expansion plan is expected to be funded by DGD cash flow and
is subject to final engineering and cost analysis. DGD estimates
completion in the fourth quarter of 2017, with production expected
to ramp-up in the first quarter of 2018. DGD expects to operate at
full capacity throughout the expansion phase, excluding an
estimated 15-to-30 days of necessary downtime for final tie-ins.
The planned expansion will also include expanded outbound logistics
for servicing the many developing low carbon fuel markets around
North America and the globe.
"Our Diamond Green Diesel joint venture continues to be a
shining star in our portfolio of ingredients and our DGD team has
successfully proven the technology works, producing the highest
quality product to meet the expectations of our customers,"
commented Randall C. Stuewe, Darling
Ingredients Inc. Chairman and Chief Executive Officer, on the
planned expansion.
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.
Safe Harbor Statement
Some of the statements made in this press release are
forward-looking statements. These forward-looking statements are
based upon our current expectations and projections about future
events and generally relate to our plans, objectives and
expectations for the development of our business. Although
management believes that the plans and objectives reflected in or
suggested by these forward-looking statements are reasonable, all
forward-looking statements involve risks and uncertainties and
actual future results may be materially different from the plans,
objectives and expectations expressed in this press release. Many
of these risks and uncertainties are described in Darling's Annual
Report on Form 10-K for the year ending January 2, 2016 and our other filings with the
SEC.
For More
Information, contact:
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Melissa A. Gaither,
V.P. Investor Relations and Global Communications
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Email:
mgaither@darlingii.com
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251 O'Connor Ridge
Blvd., Suite 300
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Phone:
972-717-0300
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Irving, Texas
75038
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