Flint Hills Resources to buy two more US ethanol plants

07 January 2011 02:17  [Source: ICIS news]

HOUSTON (ICIS)--Flint Hills Resources (FHR) on Thursday announced plans to acquire two more ethanol plants in Iowa, a move that will nearly double its production of the biofuel.

The facilities, which are located in Fairbank and Iowa Falls, are owned by Hawkeye Renewables.

The Iowa Falls plant has 100m gal/year of capacity, while the Fairbank unit is capable of producing 115m gal/year, the company said.

No financial details were disclosed.

The deal is expected to close in the first quarter of 2011, the company said.

FHR in August 2010 entered the US ethanol sector after acquiring two 110m gal/year ethanol plants in Iowa.

The plants are located in Menlo and Shell Rock.

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By: William Lemos
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