Valero completes buy-out of ethanol plants
Thursday, January 14, 2010
Valero Renewable Fuels Co. LLC has closed on its purchase of two ethanol plants in the Midwestern United States.
The plants are located in Linden, Ind., and Bloomingburg, Ohio, and each have an annual production capacity of 110 million gallons.
Valero paid $200 million plus inventory costs for the plants. The two plants are currently idle, but Valero expects to restart them within the next three to six months.
Valero bought the plants from ASA Ethanol Holdings LLC.
Valero Renewable Fuels is a wholly owned subsidiary of San Antonio-based Valero Energy Corp. The company owns a total of seven ethanol plants in the Midwest with a combined production capacity of 780 million gallons per year. Valero also owns 15 oil refineries with a combined capacity of 2.8 million barrels per day.
Source: San Antonio Business Journal
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