FRIESLAND - Stockholders of United Wisconsin Grain Producers voted to take the company private Saturday.
The company has begun the process of converting shares under the plan, which is expected to save the company as much as $250,000 annually in accounting and legal fees.
The company operates an ethanol plant in Columbia County that opened in May 2005 and produces approximately 53 million gallons of ethanol a year.
Under the plan, three classes of stockholders will be created. Class A stockholders will be those who own 50 or more shares, Class B those who own 11 to 49 shares and Class C will be those who own 10 or fewer shares.
All would continue to share in the profits, but voting rights will change for those who have Class B or Class C stock.