The combination of Noble's global reach and Mansfield's North American distribution system will allow us to reach the best possible netbacks and crush margins for our plant partners
Stamford, CT and Gainesville, GA (PRWEB) February 08, 2012
Noble Group (N21 – at the SGX.NOBL SP on Bloomberg) and Mansfield Oil Company announced today that they have launched a new venture that combines the companies’ existing plant marketing divisions. The new company, Noble Mansfield Renewable Energy, will be headquartered in Bloomington, MN, currently the home of Mansfield’s C&N ethanol marketing business. William (Bill) Covey, who has been leading Noble’s ethanol plant marketing business, has been named CEO, and Jon Bjornstad, founder of C&N Ethanol Marketing, will continue as the new organization’s President.
“Ethanol Producers need a financially secure marketer with large operating scale, direct access to global markets, and a full suite of risk management services. This new organization offers plant partners access to unmatched risk management tools and a scope of services on a global scale.” said Bill Covey. He added, “Noble Mansfield will offer plants a marketing plan which leverages the strengths of Noble’s global reach and Mansfield’s North American distribution system which has deep relationships with refiners and retail blenders. This combination of abilities will allow us to reach the best possible netbacks and crush margins for our plant partners.”
Increasing market volatility in both grains and energy products is driving new service needs for producers. “The traditional plant marketing approach has to evolve in order to continue to add value to producers in new ways,” said Jon Bjornstad. “We’ve continued to develop our RINS management and compliance services, expanded our discounted natural gas supply programs, and extended our automation solutions for plant loading racks to sell product 24/7 without adding labor cost. We have had a strong ethanol export program for several years and are excited about continuing to grow those volumes for our plants and, by working closely with Noble’s global supply chain business, we see opportunities to grow DDGS exports to improve co-product values for our plant partners.”
Noble Mansfield Renewable Energy streamlines operations and opens up market opportunities for its ethanol and biodiesel partners by managing all sales contracts, transportation logistics, invoicing, credit and accounts receivable. Plant partners will benefit from the combined resources and marketing strength of two of the nation’s renewable energy leaders through global reach with a local touch. For more information on Noble Mansfield Renewable Energy, visit http://www.noblemansfield.com.
Noble Group (N21 – at the SGX.NOBL SP on Bloomberg) manages the global supply chain of agricultural and energy products, metals and minerals. Noble operates from over 120 offices in 40 countries, employing approximately 80 nationalities. Noble manages a diversified portfolio of essential raw materials, integrating the sourcing, marketing, processing, financing and transportation. Noble owns and manages an array of strategic assets, sourcing from low cost producers such as Brazil, Argentina, Australia and Indonesia and supplying to high growth demand markets including China, India and the Middle East. Today, Noble has interests in grain crushing facilities, coal and iron ore mines, fuel terminals and storage facilities, sugar and ethanol plants, ports, vessels and other key infrastructure. For more information, visit http://www.thisisnoble.com.
Ranked as one of the Top 50 privately held companies in America by Forbes and a multiple category finalist in the 2009, 2010 and 2011 Platts Global Energy Awards, Mansfield defines the next generation energy company. Founded in 1957, the company has achieved double-digit growth for three decades by focusing on optimizing and controlling fuel-related costs for its customers using innovation, technology and high touch service. Mansfield Renewable Energy is a fully owned subsidiary of Mansfield Energy LLC that is focused exclusively on the servicing, marketing, logistics, and regulatory reporting needs of renewable fuels producers across North America. Mansfield Renewable Energy is headquartered in Bloomington, MN. For more information, visit http://www.mansfieldoil.com.