Clean Burn Fuels files for chapter 11 bankruptcy, vows to re-organize

In North Carolina, the Clean Burn Fuels ethanol plant filed for Chapter 11 bankruptcy protection, listing $80 million each in assets and liabilities, and said that it hopes to re-organize and resume production later in 2011. The 60 million gallon plant, North Carolina’s first, opened last year and stopped production recently after running into financial difficulties.

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