An Omaha-based company has completed a $55 million acquisition of an ethanol plant from Otter Tail Ag Enterprises near Fergus Falls, Minn.
Green Plains Renewable Energy Inc. says the purchase was completed on Thursday. The addition of the plant, which has a capacity of 55 million gallons, brings Green Plains' total production capacity to about 740 million gallons a year.
A bankruptcy court in February accepted Green Plains' bid to acquire the plant. Forty workers at the plant will now be part of Green Plains.
Otter Tail Ag Enterprises, based in Fergus Falls, filed for Chapter 11 bankruptcy protection in 2009.
Green Plains says it is North America's fourth largest ethanol producer with nine plants in six states.
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