Flint Hills buys more Hawkeye ethanol plants

Flint Hills Resources has reached a deal to obtain the ethanol plants at Iowa Falls and Fairbank from Hawkeye Renewables, part of Ames-based Hawkeye Energy Holdings.

Flint Hills had already bought Hawkeye ethanol plants in Menlo and Shell Rock.
The Iowa Falls plant, which can produce 100 million gallons annually, and the 115 million-gallon Fairbank plant are Hawkeye’s last two ethanol facilities.

Hawkeye Renewables emerged from a Chapter 11 restructuring last June under new equity ownership. Flint Hills, based in Wichita, Kan., is owned by Koch Industries, which operates a gasoline refinery at Rosemount, Minn., that serves Iowa.

The deal for the Iowa Falls and Fairbank plants is expected to close soon. The purchase price will not be disclosed.

“These are quality plants with excellent work forces and strong supplier networks,” said Brad Razook, Flint Hills’ president.

Each plant employs about 50 people.

source: desmoinesregister