Panda sells unfinished plant to creditors

Panda Ethanol’s subsidiary in Hereford, Texas, has sold its unfinished 115 million gallon per year ethanol plants to creditors for €18.7 million.

Panda put the plant up for sale and filed for voluntary Chapter 11 bankruptcy in later January 2009.

The ethanol plant was destined to be a unique operation in Hereford, unofficially known as ‘the beef capital of the world’, due to it being fuelled by cow manure from nearby feedlots and supplying wet distillers grains with soluble to the cattle there.