Swiss company buys Tri-City Energy biodiesel plant

By Ron Kotrba | October 14, 2009
Posted November 4, 2009

Management of Tri-City Energy LLC, a 5 MMgy biodiesel plant in Keokuk, Iowa, anticipates completion of the sale of its plant to BFSG International of Zurich, Switzerland, by Nov. 6. The acquisition will be finalized through Tomorrow's Choice in Energy LLC, or TC Energy, a wholly owned subsidiary of BFSG. Also part of the transaction is the sale of Keokuk Glycerin LLC in which Tri-City Energy has a 51 percent stake.

Al Moander, Tri-City Energy sales and marketing manager, told Biodiesel Magazine that, pending the finalization of the purchase, the plant will change its name to TC Energy LLC. He also said engineers are now making assessments of technology upgrades needed at the three year old refinery to remain competitive in this business.

The plant is slated for auction in December through Maas Companies. Moander said if the transaction is finalized on or before Nov. 6, the auction will be off.
 
 
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