(Sioux Falls, S.D.)– Ethanol producer Verasun Energy Corp. is putting seven of its ethanol plants, including one in northwest Iowa, up for auction as part of a debtor-in-possession agreement with lender Agstar Financial Services.
Verasun spokesman Mike Lockrem says Agstar is calling for a sales process by auction as part of the agreement filed in federal bankruptcy court in Delaware on Thursday.
The plants to be auctioned are in Ord and Central City, Nebraska; Albert City and Dyersville, Iowa; Woodbury, Michigan; Hankinson, North Dakota; and Janesville, Minnesota.
The plant in Hartley is NOT on the list.
Lockrem says the company needs the additional 12.3 million dollars in funds to maintain the plants’ work force and facilities through April 30th.
(Story from the Associated Press.).
