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Company Idles State’s Oldest Ethanol Plant

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HAT news partner Inside Indiana business repots that the oldest ethanol plant in Indiana has been idled. The decision by New Energy Corp. in South Bend has prompted the layoff of 40 workers The South Bend Tribune reports the company attributes the move to “challenging economic conditions facing the ethanol industry.”  The company has been around for more than 20 years and the plant is up for sale.

 

The idling is planned for the winter months and owners hope to eventually call employees back. But the newspaper reports it’s not known when or if that will happen. The company says high corn prices, high ethanol inventories and lower gasoline demand are some of the challenges facing the industry.

Source: Inside Indiana Business