Aventine Renewable Energy (AVR) Suspends Construction on Mount Vernon, Indiana Bio-Refinery
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Aventine Renewable Energy Holdings, Inc. (NYSE: AVR) announced that it was temporarily suspending construction at its Aurora, Nebraska bio-refinery and will extend the remaining construction schedule at its Mount Vernon, Indiana bio-refinery.
Given the continued disappointing economics surrounding the production of ethanol, the Company has decided to temporarily suspend construction at the new Aurora facility. The construction delay is expected to last approximately six months.
In addition, construction at the Mount Vernon, Indiana facility will continue. However, the completion date will be extended until the fourth quarter of 2009.
Aventine is a producer, marketer and end-to-end distributor of ethanol to many leading energy companies in the United States.[SM]
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