• Standard Ethanol On Target For Initial 300 Million Gallons

  • 01 November 2006 Hong Kong

    Mid America Bio Energy and Commodities, LLC (“MABE”) of North Platte, Nebraska announced on 24 October 2006 that it has completed the merger of Mid America Agri Products/Wheatland, LLC (Madrid, Nebraska) and Mid America Agri Products/Horizon, LLC (Cambridge, Nebraska) into Standard Ethanol, LLC. MABE is the principal owner of Standard Ethanol, LLC. Standard Ethanol plants in Madrid and Cambridge are under construction and will achieve an output of 300 million gallons once the expansion plan is completed.

    Noble Americas, an investor in MABE and wholly owned subsidiary of global supply chain manager Noble Group (SGX: NOBL) is the designated offtaker of the firm ethanol output, and strongly supports MABE’s strategy to reach 500 million gallons of ethanol production capacity by year 2008. “We remain focused and on schedule with our ethanol strategy which contains other US and overseas projects under construction or in the planning stages,” says Noble Group COO Ricardo Leiman. “We are in the process of building a global and more scalable ethanol business,” he added.

    MABE knowledge and expertise in the ethanol sector is being recognized in other states whereby the firm is also leading the project to build a 100 MMGY ethanol facility in Haxtun, Colorado.

    About Noble Group

    Noble Group Limited (SGX: NOBL) is a market leader in managing the global supply chain of agricultural, industrial and energy products. Achieving the second highest profitability in 2005 with net profits of US$231 million representing a 36% ROE on US$11.7 billion in revenue, the Group operates a network of over 70 offices in 42 countries serving more than 3500 customers.

    Noble Group was selected by Corporate Governance Asia as a member of the Corporate Governance Recognition Awards Class Of 2006 - The Best in Asia. In 2005, Noble Group was assigned ratings from Moody's Investors Service and Standard & Poor's Ratings Agency and joined the benchmark Straits Times Index, MSCI Index in Singapore and the FTSE - Hang Seng Index. During this period, the Group was recognized as one of BusinessWeek's Stars of Asia and FinanceAsia's Best Companies, a leader in Corporate Governance by The Asset and a Best Employer by Hewitt Associates. Noble also topped The Forbes Global 2000 - Total Return over the last five years.

    In 2004, Noble Group's Board of Directors was awarded the Listed Companies (Main Board) Boards Award from The Hong Kong Institute of Directors and ranked first on the Billion-dollar club of the Singapore Stock Exchange for Total Shareholder Returns over a 3 and 5 year period.

    For further details please contact:
    Noble Group Limited
    Tel: +852 2861 3511
    Fax: +852 2527 0282
    Email: noble@thisisnoble.com

    Mr. Brad Smolar
    Smolar Limited
    Tel: +852 2522 0268
    Fax: +852 2573 2473
    Email: reputation@smolar.com