Flint Hills Resources buys Platinum Ethanol plant in Arthur, Iowa
Source: by Perry Beeman, Des Moine Register • Posted: Tuesday, July 16, 2013
Flint Hills Resources, a Koch Industries subsidiary, plans to buy Platinum Ethanol’s ethanol plant in Arthur for an undisclosed sum, the firm announced Monday.
The transaction, expected to close later this year, would give Flint Hills its fifth Iowa ethanol plant. It also owns a biodiesel plant in Texas.
The Arthur facility opened in 2008 and employs 50. It has a production capacity of 110 million gallons a year.
“The Arthur plant will be a strong addition to our biofuels business,” Flint CEO Brad Razook said in a statement. “This is a quality operation in one of the best corn-producing regions of the country and it’s supported by a topnotch professional workforce. We look forward to welcoming the Arthur team to Flint Hills Resources.