GROWMARK has acquired a propane terminal in New Hampton, Iowa, according to an announcement Jan. 4. The facility has 11 tanks with nearly 1 million gal. of total storage capacity. The terminal will be used primarily to serve area FS companies as well as other local retailers. GROWMARK will utilize the terminal in conjunction with its rail propane terminal in nearby Mason City, Iowa.
“We continue to look at opportunities and make necessary investments to ensure a reliable and competitive supply of propane to the Midwest,” said Kevin Carroll, GROWMARK vice president of energy and logistics. “This acquisition reinforces our commitment to being an excellent supplier of propane to the Midwest, and particularly northern Iowa. We continue to look for ways to best supply our members and other customers.”
Changes will be made to the existing facility to upgrade the loadout technology and add a transport unload station. It is expected to be fully operational later this winter.
GROWMARK, an agricultural cooperative with annual sales of $7 billion (fiscal 2016 data), provides agronomy, energy, facility planning and logistics products and services as well as grain marketing and risk management services in more than 40 states and Ontario. GROWMARK owns the FS trademark, which is used by affiliated member cooperatives.