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Author	Topic: ADM closing North Dakota ethanol plant in April	Post a Reply Back to Topics

antiguzzle Sophomore Author Wichita Posts:237 Points:20,545 Joined:Mar 2012	Message Posted: Apr 9, 2012 7:06:45 AM Ignore antiguzzle Report Abuse W W W DOT cbsnews DOT C O M/8301-505245_162-57372525/adm-closing-north-dakota-ethanol-plant-in-april/ "Archer Daniels Midland Co. is closing its ethanol plant in the northeastern North Dakota city of Walhalla in April, putting 61 people out of work." "The plant opened in 1985 as Dawn Enterprises. It changed hands twice in the late-1980s and early 1990s and has closed and reopened several times throughout its history, its fate tied to fluctuating gas prices and various subsidies and tax incentives, the Grand Forks Herald reported." ----- "Company spokeswoman Jessie McKinney said the closure of the plant is not tied to the expiration last year of a federal tax credit for the corn-based fuel." - Riiiiiiiight... LOL! [Edited by: antiguzzle at 4/9/2012 10:09:13 AM EST]

antiguzzle

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Wichita

Posts:237
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Message Posted: Apr 9, 2012 7:06:45 AM

Ignore antiguzzle Report Abuse

W W W DOT cbsnews DOT C O M/8301-505245_162-57372525/adm-closing-north-dakota-ethanol-plant-in-april/

"Archer Daniels Midland Co. is closing its ethanol plant in the northeastern North Dakota city of Walhalla in April, putting 61 people out of work."

"The plant opened in 1985 as Dawn Enterprises. It changed hands twice in the late-1980s and early 1990s and has closed and reopened several times throughout its history, its fate tied to fluctuating gas prices and various subsidies and tax incentives, the Grand Forks Herald reported."

-----

"Company spokeswoman Jessie McKinney said the closure of the plant is not tied to the expiration last year of a federal tax credit for the corn-based fuel."

- Riiiiiiiight... LOL!

[Edited by: antiguzzle at 4/9/2012 10:09:13 AM EST]

REPLIES (newest first)Ignore Short Messages

Daurel Veteran Author Indiana Posts:309 Points:32,770 Joined:Jul 2011	Message Posted: Apr 11, 2012 6:06:06 AM Ignore Daurel Report Abuse Yea They, ADM bought the plant in Linden IN and built the one in Greencastle IN. Both are running 24-7 turning out product daily tanker car at a time. Both do not seem to be slowing down in the least.
goldseeker Champion Author West Virginia Posts:19,513 Points:2,714,815 Joined:Sep 2005	Message Posted: Apr 10, 2012 1:13:35 AM Ignore goldseeker Report Abuse Antiguzzle: Your attempt to spin this story is very poor. ADM announced this closing several months ago. They give some very good reasons. This is their smallest plant and it is clear up on the Canadian border. It is not cost effective to have feedstocks shipped to a small plant that has small profit margins. ADM is an advocated of bigger ethanol plants. They are one of the few producers who has chosen the route of bigger ethanol plants. They now have 5 plants that produce over 200 mgpy and one that produces 300 mgpy. It makes plenty of sense to close the smallest plant that is only producing 30 mgpy. It is a well known fact that larger plants have smaller production costs per gallon when compared to the small plants. ADM is doing fine and is currently the nations second largest ethanol producer. And since ADM doesnot blend any of their own ethanol fuels, they did not receive one penny from the blenders credit. [Edited by: goldseeker at 4/10/2012 4:14:50 AM EST]
chemist74 Champion Author Cleveland Posts:13,510 Points:2,395,980 Joined:Apr 2005	Message Posted: Apr 9, 2012 1:15:41 PM Ignore chemist74 Report Abuse Any industry built on government subsidies and tax breaks is going to lose some of it's weakest members when the subsidies and tax breaks end.
gamechanger2011 Champion Author Wichita Posts:1,525 Points:54,110 Joined:Jun 2011	Message Posted: Apr 9, 2012 7:18:29 AM Ignore gamechanger2011 Report Abuse "Archer Daniels Midland reported $2.03 billion in profits for the last fiscal year alone, but crops markets can make for unpredictable revenue. Corn and soybean prices have seesawed violently this year, hitting near-record levels only to plunge again in a matter of months. Such swings can quickly wipe out profits, so ADM is looking to cut as much overhead costs as it can." Archer Daniels Midland Layoffs To Cut 1,000 Jobs, About 3% Of Total Workforce/January 11, 2012