By OGJ editors
HOUSTON, Jan. 7 -- Flint Hills Resources LP plans to buy two ethanol plants in Iowa from Hawkeye Renewables LLC, which last year restructured its finances under bankruptcy protection.
Flint Hills will buy a 100-million-gal/year plant in Iowa Falls and a 115-million-gal/year plant in Fairbank. The company, part of Koch Industries Inc., has more than 800,000 of distillation capacity in refineries in Texas, Alaska, and Minnesota.
The refiner already owns ethanol plants with capacities of 110 million gal/year each in Menlo and Shell Rock, Iowa. In Iowa, it operates a fuel terminal and asphalt plants at Algona, Davenport, and Dubuque. It also distributes fuels in the state.
Flint Hills didn’t disclose the purchase price.