KE Holdings LLC, successfully bid $115 million to buy the Abengoa Bioenergy Ethanol plant in Ravenna, Nebraska.
KAAPA Ethanol Chief Executive Officer Chuck Woodside said this will be the first acquisition of an ethanol plant solely as a 100% subsidiary of KAAPA Ethanol and thinks they’ll be able to serve the customers in the area well.
“We’re going to see if we can get in there and start doing some work early with respect to grain operations. We think that there will be an opportunity to not only receive contracts for some additional grain, but offer the farmer the same kind of service he gets in Elm Creek and Minden today. ”
An August 29th court date is set to approve the sale and Woodside says they’re anticipating a September 30th closing date.
Catch Woodside’s full commentary on the takeover below as he visits with the RRN’s Shalee Peters.