The top official of The Andersons Inc. said Wednesday the Toledo area-based agribusiness has resumed operations at its Albion, Mich., and Denison, Iowa, ethanol plants.

Speaking via teleconference at the BMO Capital Markets Global Farm to Market virtual conference, Andersons President and CEO Pat Bowe said the company, headquartered in Monclova Township, earlier had shut down its five ethanol plants for extended maintenance.

But a recent increase in demand for gasoline has allowed for some capacity to be brought back online, Mr. Bowe said, according to a news report by investment website Seeking Alpha.

He said second-quarter production across all of its ethanol plants was at 50 percent of capacity. The Andersons co-owns five ethanol plants located in Albion and Dennison, plus Clymers, Ind.; Colwich, Kan., and Greenville, Ohio that collectively are capable of producing over 545 million gallons of ethanol.

Mr. Bowe added that the company expects a slow recovery for ethanol, but a "bin-busting" U.S. corn crop which should help the company's assets.

First Published May 13, 2020, 10:42 p.m.