Verasun Delays Opening Of Two Ethanol Plants

(FinancialWire)-- Verasun said it is delaying the opening of two midwestern ethanol distilleries until market conditions improve. The plants, each scheduled to produce 110 million gallons per year, were to be built in Welcome, Minnesota, and Hartley, Iowa.

VeraSun spokesman Michael Lockrem said record corn prices and low ethanol prices, relative to spikes in gasoline, have made making the biofuel difficult. The plants had been scheduled to come on line during the second quarter of 2008. Lockrem could not say if they would start this year.