VeraSun Energy Corporation today announced plans to acquire three ethanol plants with a combined annual production capacity of 330 million gallons per year (MMGY) from ASAlliances Biofuels for $725m.
The three facilities are each expected to operate at 110MMGY and are located in
According to a statement, the facilities will provide VeraSun with immediate production capacity and revenue. The
‘This is a unique opportunity to acquire immediate production and revenue at a cost similar to that of building new facilities,’ said Don Endres, VeraSun Chairman and CEO.
VeraSun currently has 340MMGY of production capacity through its operating facilities in
The company is funding the acquisition through $200m of equity, $250m of cash and $275m in project financing. The acquisition is expected to be accretive to earnings and free cash flow within the first 12 months without accounting for potential synergies.
First seven members join NG’s Great Grid Partnership
Agreed. It is all pretentious posturing and trite branding with no meaning or gravitas. Prepare to be disappointed by all of these greats/grates.