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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934.
Date of Report (Date of earliest event reported) March 1, 1996.
HIGH PLAINS CORPORATION
(Exact name of registrant as specified in its charter)
Kansas #1-8680
(State or other jurisdiction of (Commission File
incorporation) Number)
200 W. Douglas #48-0901658
Suite #820 (IRS Employer
Wichita, Kansas 67202 Identification No.)
(Address of prinicipal
exeuctive offices)
(316)269-4310
(Registrant's telephone number)
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FOR IMMEDIATE RELEASE
Contact: Raymond G. Friend
High Plains Corporation
HIGH PLAINS CORPORATION ANNOUNCES
AGREEMENT WITH CONAGRA TO MARKET DISTILLER'S GRAINS
Wichita, KS, March 1, 1996 -- High Plains Corporation (NASDAQ:HIPC) today
announced an agreement with ConAgra to market all of its wet and dry
distiller's grains (DDG) from both of its ethanol plants. Annually, High
Plains currently produces approximately 180,000 tons of distiller's grains,
stated on a dry matter basis.
"High Plains is pleased to announce this distiller's marketing agreement with
ConAgra. We think that this is a positive and progressive step forward for
our Company. ConAgra's expertise over the entire spectrum of feed
ingredients and the related transportation benefits they bring to our Company
should allow us to maximize revenue on this product," stated Stanley E.
Larson, the Company's Chairman and Chief Executive Officer.
"Distiller's grain prices have increased from $95.00 per dry ton in August of
1995, to the current spot price of $170.00 per ton, a 79 percent increase.
This increased revenue from distiller's grains have helped cover up to 50
percent of the Company's higher grain costs present today," continued Mr.
Larson.
CONAGRA INC. is a diversified international company that operates across the
food chain around the world, with fiscal 1995 sales of 24.1 billion dollars.
CONAGRA is assuming responsibility for fulfillment of all outstanding
contracts for High Plains distiller's grains.
CONAGRA FEED INGREDIENT MERCHANDISING COMPANY is one of the largest processed
product merchandising groups in North America.
Pricing information for DDGS and WDGS can be obtained from Jim Typer or Scott
Bunz at (402)595-4746 or (800)883-4606.
Based in Wichita, Kansas, High Plains Corporation is the only publicly traded
company whose sole business is Ethanol. It is one of the largest producers
of Ethanol west of the Mississippi River, with 60 million gallons per year of
current capacity. Clean burning Ethanol reduces pollutants in automotive
gasoline and increases octane levels for better engine performance without
increasing gas pump prices.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant had duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date March 1, 1996 HIGH PLAINS CORPORATION
Raymond G. Friend
Executive Vice President
- Chief Financial Officer
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