1/9/2024 0 Comments Ag stock priceThe ownership interests in the two companies – common stock of GLCP and capital units of Holding Company – are stapled together, meaning that one interest cannot be transferred without the other, and a transfer or sale of GLCP common stock automatically transfers or sells the identical number of Holding Company capital units stapled to the common stock. The IC-DISC involves internal computations and support from GLCP, but does not lease space, employ personnel or own any assets. As a result, effective October 1, 2015, shareholders of GLCP now own two companies GLCP and the IC-DISC sales company through Holding Company, LLC. In the fall of 2015, GLCP formed a “Domestic International Sales Corporation” known as an “IC-DISC” to take advantage of lower tax rates to its shareholders on income earned and distributed on export sales of ethanol and feed products it produces at its two ethanol production facilities. The Mina production facility began operations in June of 2008. GLCP is also the sole owner of Aberdeen Energy, LLC (doing business as “Glacial Lakes Energy – Mina”), which owns and operates a 120 mgy ethanol production facility near Mina, South Dakota. GLE holds a 15% ownership investment in Granite Falls Energy, LLC, a 50 mgy ethanol production facility located near Granite Falls, Minnesota, and an 8% ownership investment and a board seat in Redfield Energy, LLC, a 50 mgy ethanol production facility located near Redfield, South Dakota. In July 2004, GLE purchased the ownership held by GLC, and GLCP became the sole owner of GLE following the transaction. Glacial Lakes Energy was formed in May 2001 as a joint venture between GLCP and Glacial Lakes Capital (GLC) to own and operated the Watertown facility. Glacial Lakes Energy, LLC (GLE) constructed an original 40 mgy nameplate ethanol production facility in Watertown, South Dakota that underwent an expansion in 2007, and is currently operating at 120+ mgy of annual production. Through its wholly-owned subsidiaries Glacial Lakes Energy, LLC and Aberdeen Energy, LLC, GLCP owns and operates 350+ mgy of ethanol production in South Dakota, as well as investments in Granite Falls Energy in Granite Falls, Minnesota, and Redfield, South Dakota. The company was founded by Johann Josef Keller and Jakob Knappich in 1898 and is headquartered in Augsburg, Germany.Glacial Lakes Corn Processors (GLCP) is a South Dakota cooperative comprised of over 4,000 members. The KUKA AG & Other Companies segment is supplementary to the operating activities of KUKA Group. The Swisslog segment produces automotive solutions for future oriented hospitals, warehouses and distribution centers primarily on trading, including e-commerce, pharmaceutical, and chilled and frozen foods. The KUKA System segment offers services such as welding, bonding, sealing, assembling, and testing, to forming solutions to meet the specific customer needs and production of castings and plastic components. The KUKA Robotics segment offers the automotive sector and general industry as well as those supported by comprehensive customer services such as industrial robots, from small models and heavy-duty robots. It operates through the following segments: KUKA Robotics, KUKA Systems, Swisslog and KUKA AG & Other Companies. KUKA AG engages in the provision of intelligent automation solutions.
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