Tyson Foods (TSN) Announces Construction Underway For New Plant
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Initial construction is underway in Geismar, Louisiana, for the new plant being built by Dynamic Fuels, a joint venture of Tyson Foods (NYSE: TSN) and Syntroleum Corporation (Nasdaq: SYNM), company officials reported today.
Construction offices are now in place, and concrete foundations are being poured for the new facility. The project remains on budget and on schedule for startup in early 2010. Once in operation, the new facility will use Syntroleum's Bio-Synfining(tm) Technology to convert animal fats and greases provided by Tyson into ultra-clean renewable diesel and jet fuel.
Jeff Webster, group vice president of Tyson's Renewable Products Division, said, "We're pleased with the progress made on this important renewable fuels project. Tyson is committed to revolutionizing the conversion of raw materials and by-products into high-margin initiatives, and the Dynamic Fuels venture is a cornerstone of this corporate strategy."
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