Rex boosts stake in NuGen Energy to 98 percent

November 4, 2011 | admin

In Ohio, Rex American increased its equity ownership of NuGen Energy to about 98%, with the remaining 2% being held by local farmers. With just a 48% ownership, Rex reported pre-tax earnings of $9.3 million plus dividents of $3.1 million for the period ending July 31. This brings Rex’s total production capacity to 219 MGy, up from 169 MGy.