REX expands share repurchase program to increase ethanol investment leverage

In Ohio, REX American Resources Corp. authorized repurchase of an additional 500,000 common shares of stock on Oct. 20, bringing the total this quarter to 747,696 shares. The company invests in ethanol plants and has interests in six. The buyback is meant to leverage its ability to further expand its investments in existing facilities and invest in new ones.

REX’s interests encompass approximately 169 MMgy of the 592 MMgy of total ethanol produced with its ownership stake varying from 5 percent to 74 percent. The plants are One Earth Energy LLC and Patriot Renewable Fuels LLC in Iowa, NuGen Energy LLC in South Dakota, Big River Resources LLC-West Burlington and Big River United Energy LLC in Iowa and Big River Resources LLC, Galva, Ill.