US ethanol maker Aventine emerges from bankruptcy

16 March 2010 18:54  [Source: ICIS news]

HOUSTON (ICIS news)--US ethanol maker Aventine said on Tuesday it has emerged from bankruptcy status, citing improved liquidity and reduced overhead costs.

The company was one of several US ethanol producers that filed for Chapter 11 bankruptcy protection in early 2009, when the industry went into a tailspin in the wake of the global financial crisis.

Aventine listed $799m (€583m) in assets and $490.7m in debt when it filed for bankruptcy protection.

The Illinois-based company has ethanol capacity of 207m gal/year (783m litres/year), according to the Renewable Fuels Association (RFA).

($1 = €0.73)

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By: William Lemos
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