Flint Hills Resources completes sale of ethanol plants
Flint Hills Resources Renewables has acquired ethanol plants in Iowa Falls and Fairbank, Iowa, in the US, formerly owned by privately owned ethanol company Hawkeye Renewables, after the transaction was closed on 18 February 2011.
The sale was completed in an all-cash transaction, although the purchase price was not revealed.
'Our transaction with Flint Hills Resources Renewables represents a favourable conclusion for our stakeholders,' says James Continenza, chairman of the board of directors of Hawkeye Renewables. 'We are proud of our company, especially our employees who contributed to making Hawkeye Renewables a successful operation and an attractive opportunity for Flint Hills Resources Renewables.'