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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SOURCE Darling Ingredients Inc.