Ethanol plant in Oregon fetches $15M in auction

12/9/2009 | Portland Business Journal (Ore.)

A judge has ordered the sale of Cascade Grain Products' ethanol plant in Clatskanie, Ore., to the sole bidder, JH Kelly, for $15 million. The plant was the largest ethanol-production facility in the state before Cascade Grain filed for bankruptcy in January amid rising corn prices and declining oil prices. The plant owes $120 million to a group of secured creditors, including $20 million to the state of Oregon.

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Portland Business Journal (Ore.)

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