VeraSun Energy Suspends Production at Twelve Ethanol Refineries
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VeraSun Energy Corp., the second-largest U.S. ethanol producer, idled 12 of its distilleries as it navigates through bankruptcy proceedings.
The plants have total capacity to produce 1.2 billion gallons of ethanol annually, Mike Lockrem, the company’s spokesman said in a telephone interview. VeraSun, based in Sioux Falls, South Dakota, filed for bankruptcy protection in October, after it made bad hedging bets on corn prices.