Pacific Ethanol to reopen Idaho plant
Pacific Ethanol will resume production at its Magic Valley plant in Burley after closing earlier this year.
The company suspended production at the plant in February due to unfavourable market conditions and in May the company’s subsidiariesfiled voluntary petitions under Chapter 11 of the US bankruptcy code in an effort to ‘restructure their indebtedness’.
A company statement said: ‘Market conditions for producing ethanol have improved and the company plans to restart the Magic Valley facility in January 2010, subject to approval by the bankruptcy court, final documentation and a number of other conditions, including rehiring and training staff and restocking corn and other raw materials’.
The company suspended production at the plant in February due to unfavourable market conditions and in May the company’s subsidiariesfiled voluntary petitions under Chapter 11 of the US bankruptcy code in an effort to ‘restructure their indebtedness’.
A company statement said: ‘Market conditions for producing ethanol have improved and the company plans to restart the Magic Valley facility in January 2010, subject to approval by the bankruptcy court, final documentation and a number of other conditions, including rehiring and training staff and restocking corn and other raw materials’.
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