A subsidiary of Green Plains Renewable Energy Inc. is buying a grain elevator in St. Edward in eastern Nebraska.
Green Plains says Monday that Green Plains Grain Co. is buying the elevator assets of KW Carter Co., which does business as JW Grain. The elevator is about 40 miles from Green Plains' ethanol plant in Central City.
The purchase is expected to be completed within 30 days. Terms weren't disclosed.
Green Plains says JW Grain has 1.9 million bushels of grain storage. Green Plains plans to expand the storage by up to a million bushels before the 2012 harvest.
Green Plains President and CEO Todd Becker say buying grain storage facilities is part of the company's diversification strategy.
