By OGJ editors
HOUSTON, Aug. 17 -- Independent refiner Flint Hills Resources, Wichita, agreed to buy two ethanol plants in Iowa in an auction conducted by Royal Bank of Scotland, acting as collateral agent for senior secured lenders.
The plants, each with capacity of 110 million gal/year, originally were owned by Hawkeye Energy Holdings LLC. They’re in Menlo and Shell Rock, Iowa. Terms weren’t disclosed.
A Hawkeye Energy subsidiary that operates two other ethanol plants recently emerged from bankruptcy.
Flint Hills, an independent subsidiary of Koch Industries, operates refineries in Alaska, Minnesota, and Texas.