SAO PAULO, May 5 (Reuters) - Brazilian company
Copersucar's annual revenue will grow by $1.5 billion after its
majority-held subsidiary Eco-Energy reached a deal to sell and
distribute ethanol produced at Green Plains' ( GPRE ) plants in
the United States, Copersucar said on Monday.
As part of the deal, nine Green Plains ( GPRE ) distilleries will
join Eco-Energy's marketing base, increasing its annual sales
volumes by 50% to around 9 billion liters of ethanol, up from
roughly 6 billion liters currently, the firm said in a
statement.
As a result of the partnership, Eco-Energy now holds
some 15% of the U.S. domestic ethanol market, the statement
said.
"It's exciting to welcome Green Plains ( GPRE ) to the Eco-Energy
platform. Our partnership creates one of the largest ethanol
traders in North America," Eco-Energy's Chief Executive Craig
Willis said.
"This scale will result in cost reductions and
optimizations across the supply chain, as well as increased
access to low-carbon markets," he added.