8-K 1 a8-kremarch2020reducedprod.htm 8-K RE MARCH 2020 REDUCED PRODUCTION Document


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 23, 2020

HIGHWATER ETHANOL, LLC
(Exact name of registrant as specified in its charter)
 
Minnesota
333-137482
20-4798531
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)
 
24500 US Highway 14, Lamberton, MN
56152
(Address of principal executive offices)
(Zip Code)
 
(507) 752-6160
(Registrant's telephone number)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

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Securities registered pursuant to Section 12(b) of the Act: None
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
 
 
 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o







Item 8.01 Other Events

Highwater Ethanol, LLC (the "Company") has decided to reduce its ethanol production rate at the plant by approximately 20% for the foreseeable future.  The Company was operating at an average ethanol production rate of approximately 67 million gallons annually prior to making the decision to curtail production.  The Company believes that this reduction is warranted due to current negative margins in the ethanol industry resulting in part from a slowdown in global and regional economic activity and decreased ethanol demand due to the COVID-19 pandemic.  Limiting ethanol production is expected to result in a corresponding decrease in distillers grains and corn oil production. The Company will continue to monitor COVID-19 developments and the effect on fuel demand and terminal capacity in order to determine whether further adjustments to production will be necessary.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
HIGHWATER ETHANOL, LLC
 
 
Date: March 23, 2020
/s/ Brian Kletscher

 
Brian Kletscher, Chief Executive Officer