The distillery in Greendale, Indiana, continues to interest whiskey enthusiasts, who know it for such products as Bulleit Rye, Templeton Rye, Redemption Rye, George Dickel Rye, Smooth Ambler Old Scout Bourbon and Rye, Redemption Bourbon, New Holland Beer Barrel Bourbon, Wm. H. Harrison bourbon, Chattanooga whiskey, and others.
The distillery is now owned by MGP Ingredients, Inc. (MGPI) which, as a publicly-owned company, is much more transparent about its operations than was the previous owner.
In the company's report of third quarter 2012 results, released yesterday, the lead headline says a "strong contribution" from the Indiana distillery "offset a reduction in sales for lower-value industrial applications."
"The decline in industrial sales for the quarter was substantially offset by growth in our premium spirits," said Tim Newkirk, President and Chief Executive Officer. "So, while our third quarter alcohol sales were relatively flat, our profit profile actually improved due to a stronger contribution from beverages.”
The report further explains that "post-acquisition progress continues at the Indiana distillery. Production rates have more than doubled since the company assumed ownership in December 2011. Capital improvements and cost reduction programs, including a switch to natural gas, are expected to further increase manufacturing capacity at a lower cost per unit."
“We’ve made great inroads with our line of premium spirits this year," said Newkirk, "despite the fact that most of the important year-end order activity for 2012 took place before we acquired the facility. Our new beverage sales team is encouraged by the high level of interest among our key customers.”
Whiskey enthusiasts in particular want to know MGPI's plans for Indiana going forward, to which Newkirk offers this tantalizing clue. "In premium spirits we’re pursuing beverage innovations, including new mash bills, flavor extensions, and barrel aging techniques."