VeraSun Closes Dyersville Ethanol Plant

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By Becky Ogann

Story Created: Nov 20, 2008 at 3:29 PM CST

Story Updated: Nov 20, 2008 at 3:29 PM CST

DYERSVILLE (AP) - VeraSun Energy has announced that it has closed its ethanol plant in Dyersville indefinitely.

The company made the announcement earlier this week in an e-mail to producers and grain elevators.

In the e-mail, the South Dakota-based company says the Dyersville plant is closed for both corn deliveries and corn purchasing until further notice. The e-mail also says that the company is negotiating additional financing that should be available next month.

The plant opened in September and was projected to produce up to 110 million gallons of ethanol each year.

VeraSun filed for Chapter 11 bankruptcy on Oct. 31. On Wednesday, it released its earnings statement, which showed the company had a net loss of more than $476 million in the last quarter.

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