Owner of Neb ethanol plant emerges from bankruptcy

Posted In: Materials

By The Associated Press

Thursday, March 18, 2010

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The owner of an Aurora ethanol plant has emerged from bankruptcy and now plans to complete a delayed expansion project at the eastern Nebraska site.

Aventine Renewable Energy Holdings Inc. of Perkin, Ill., has a new CEO and improved balance sheet after reorganizing. It also was able to continue operating its ethanol plants while it reorganized.

The company said Tuesday that new chief executive Thomas Manuel has experience leading companies out of restructuring and experience in the ethanol industry.

Aventine has a 50-million-gallon ethanol plant at Aurora, but in 2008, it suspended construction of a 113-million-gallon plant nearby because of its financial trouble.

Aventine also plans to resume work on an ethanol plant in Mount Vernon, Ind.

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On the Net:

Aventine Renewable Energy Holdings Inc.: http://www.aventinerei.com

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