July 11 Flint Hills Resources said on
Thursday it will acquire Platinum Ethanol's plant in
northwestern Iowa, a facility with an annual capacity of 110,000
The deal is expected to close later this year and would
bring to six the number of ethanol plants owned by Flint Hills,
five of which would be in Iowa, the No. 1 ethanol- and
Flint Hills, based in Wichita, Kansas, also operates oil
refineries in Alaska, Minnesota and Texas as well as chemical
and polymer plants in Illinois, Michigan and Texas.
Once the deal is completed, Flint Hills' six ethanol plants
would have an annual capacity of 660,000 million gallons - less
than 1 percent of the total production capacity in the United
States, according to the Renewable Fuels Association.
"The Arthur plant will be a strong addition to our biofuels
business," Brad Razook, chief executive and president of Flint
Hills Resources, said in a release.
Officials from Platinum did not immediately return requests
for comment. Terms of the deal were not disclosed.
The plant in Arthur opened in 2008, employs 50 people and
receives corn at a rate of 60,000 bushels per hour.