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Poet to Suspend Ethanol Production in Missouri on Corn Shortfall

Jan. 25 (Bloomberg) -- Poet LLC, the largest U.S. ethanol maker, will suspend production at a plant in Missouri because drought conditions have ravaged local corn supplies.

There’s no timeline for resuming production at the Macon facility, closely held Poet said today in an e-mailed statement. While operations will stop Feb. 1, all of the plant’s 44 workers will remain employed “at their current hours,” Poet said.

The Sioux Falls, South Dakota-based company will install about $14.5 million in plant upgrades while operations are suspended, and some of the current employees will assist, according to the statement.

“It’s investments like these that will ensure continued long-term success for the plant,” John Eggleston, president of the board, said in the statement.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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