REG tries to stay ahead of biodiesel downturn

By | April 15, 2008
Ralston, Iowa-based Renewable Energy Group Inc. made several business moves recently. In March, it partnered with ISE Corp., a hydraulic drive supplier based in California, to comarket biodiesel to city bus fleets across the United States. It also withdrew plans for its initial public offering, which was to raise $150 million to finance the construction of three biodiesel plants. REG said it was trying to stay flexible in order to grow the business during difficult market conditions. In February, it entered into a capital line of credit with financial service provider WestLB AG to raise $28 million.
 
 
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