Expanding the reach into directly controlling the sources of ethanol for the business that involves mixing ethanol with gasoline, Valero Energy Corporation has won the bid to purchase 7 ethanol plants from VeraSun as part of a bankruptcy auction. A total of $477 million is to be paid for the purchases.

This is Valero Energy's first venture in directly producing ethanol for their business needs. The total capacity of these plants is estimated to be 780 million gallons per year according to the information in the company's press release.

Here's a link to Valero Energy Corp's press release on their Web site:
Valero Energy Has Winning Bid to Purchase VeraSun Plants

 

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