Mon November 2, 2009
Keokuk Bio-Diesel Plant Being Sold
Keokuk, IA – A bio-diesel plant in Keokuk could soon go back online.
Sales and Marketing Manager Al Moander says production at Tri-City Energy stopped more than one year ago. He says it was due, in part, to the rising cost of materials and a drop in the price of oil.
Moander says that could soon change. He says a Switzerland-based company is buying the assets of Tri-City Energy and a second company, Keokuk Glycerin.
"The intent is to bring the glycerin plant back online first," says Moander, "then the biodiesel plant will follow shortly behind that. As we bring these various areas back online, we will be bringing employees back in."
Moander says Tri-City Energy and Keokuk Glycerin will become part of TC Energy. He says that company has already been purchased by B.F.S.G. International.
Moander says the current investors will continue to own a portion of the new company. He says the deal could be finalized as early as Friday, November 6.
Moander says efforts have been underway to sell the assets for about 18 months. He says they had been working with several companies before moving forward with B.F.S.G. International.