IRVING, Texas, Sept. 18, 2018 /PRNewswire/
-- Darling Ingredients Inc. (NYSE: DAR) reported today
that the Diamond Green Diesel ("DGD") facility in Norco, LA, which is a joint venture with a
subsidiary of Valero Energy Corporation (NYSE: VLO) ("Valero"),
will be taking downtime from September 21,
2018 until approximately October 1,
2018 to replace a catalyst that was damaged during start-up
of the facility, which was expanded from 160 million gallons to 275
million gallons per year of renewable diesel capacity. The issue
that caused the damage to the catalyst was identified and
remedied.
"Diamond Green Diesel took longer downtime with the turnaround
than expected and coupled with the scheduled September replacement
of the catalyst, total production gallons will be lower in the
3rd quarter than had been projected," said Randall C. Stuewe, Chairman and Chief Executive
Officer of Darling Ingredients Inc. "Once back on line, we
are confident DGD will be able to quickly achieve the annual rated
capacity of 275 million gallons," stated Mr. Stuewe.
About Darling
Darling Ingredients Inc. is a global developer and producer of
sustainable natural ingredients from edible and inedible
bio-nutrients, creating a wide range of ingredients and 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 recycled oils (used cooking oil and animal fats) into
valuable feed and fuel ingredients, and collects and processes
residual bakery products into feed ingredients. In addition, the
Company provides environmental services, such as grease trap
collection and disposal services to food service establishments.
The Company sells its products domestically and internationally and
operates within three industry segments: Feed Ingredients, Food
Ingredients and Fuel Ingredients. For additional information, visit
the Company's website at http://www.darlingii.com.
About Valero
Valero Energy Corporation, through its subsidiaries, is an
international manufacturer and marketer of transportation fuels and
other petrochemical products. Valero, a Fortune 50 company based in
San Antonio, Texas, with
approximately 10,000 employees, is an independent petroleum
refiner and ethanol producer, and its assets include
15 petroleum refineries with a combined throughput capacity of
approximately 3.1 million barrels per day and 11 ethanol
plants with a combined production capacity of 1.45 billion
gallons per year. The petroleum refineries are located in
the United States (U.S.),
Canada and the United Kingdom (U.K.), and the ethanol plants
are located in the Mid-Continent region of the U.S. In
addition, Valero owns the 2 percent general partner interest and a
majority limited partner interest in Valero Energy Partners LP, a
midstream master limited partnership. Valero sells its
products in both the wholesale rack and bulk markets, and
approximately 7,400 outlets carry Valero's brand names in the
U.S., Canada, the U.K. and
Ireland. Please visit www.valero.com for more
information.
Darling
Ingredients contact
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Melissa A. Gaither,
VP IR and Global Communications
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Email :
mgaither@darlingii.com
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251 O'Connor Ridge
Blvd., Suite 300, Irving, Texas 75038
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Phone :
972-281-4478
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Valero
Contacts
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Investors:
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John Locke, Vice
President – Investor Relations, 210-345-3077
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Karen Ngo, Senior
Manager – Investor Relations, 210-345-4574
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Tom Mahrer, Manager –
Investor Relations, 210-345-1953
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Media:
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Lillian Riojas,
Director – Media Relations and Communications,
210-345-5002
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Cautionary Statements Regarding Forward-Looking Information:
{This media release contains "forward-looking" statements
regarding the business operations and prospects of Darling
Ingredients Inc., including its Diamond Green Diesel (DGD) joint
venture, 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," "assumption," 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, changes to worldwide government policies
relating to renewable fuels and greenhouse gas emissions that
adversely affect programs like the Renewable Fuel Standards Program
(RFS2), low carbon fuel standards (LCFS) and tax credits for
biofuels both in the Unites States and abroad; and risks associated
with the DGD renewable diesel plant in Norco, Louisiana, including possible
unanticipated operating disruptions and issues related to the
announced expansion project including, the statements regarding the
proposed timetable for resumption of full production (which are
based on the best estimates currently available). 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.}
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SOURCE Darling Ingredients Inc.