Flint Hills acquires two ethanol plants from Hawkeye Renewables

In Kansas, Flint Hill Resources has signed an agreement yesterday to purchase two ethanol plants from Hawkeye Renewables.  Originally constructed as a 50 million-gallon-per-year plant in November 2004, the Iowa Falls ethanol plant doubled its capacity to 100 million gallons per year in March 2006. The Fairbank plant was built in 2006 and is capable of producing 115 million gallons of ethanol annually.

Both plants were designed by ICM and built by Fagen, Inc.  Flint Hills Resources’ Iowa operations include a fuel terminal and asphalt plants in Algona, Davenport and Dubuque, as well as ethanol plants in Menlo and Shell Rock, which where purchased  last fall. The company also distributes refined fuels throughout the state.  The deal is expected to close early in the first quarter of 2011. The purchase price will not be disclosed.

Flint Hills is also an investor in SG Biofuels.

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