Economy

Citing high corn prices, ethanol plant closes temporarily

A Clearfield plant that turns corn into ethanol will be idle in response to rising costs and flat prices for the fuel.

According to the office of state Rep. Camille “Bud” George, D-Houtzdale, Bionol Clearfield LLC is shutting down temporarily, but has no plans for layoffs or furloughs.

George spokesman Matt Maciorkoski said the company is experiencing the same thing that every ethanol plant in the country is dealing with: high corn prices in a market that is not expected to turn around until mid-September.

When reached, Rob Carringer, interim CEO of Bionol, would not comment except to say that “the company is communicating directly with its customers, vendors and employees.”

Maciorkoski said the company is expected to continue with cleaning and maintenance during the temporary shutdown. New corn supplies are expected to hit the market in September and bring prices down.

Read the complete story at centredaily.com

  Comments