Hawkeye Renewables Announces Closing of the Sale of Ethanol Plants to Flint Hills Resources Renewables

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Feb 18, 2011, 12:37 ET

AMES, Iowa, Feb. 18, 2011 /PRNewswire-USNewswire/ -- Hawkeye Renewables, LLC announced today that it closed the sale of its ethanol plants located in Iowa Falls and Fairbank, Iowa, to Flint Hills Resources Renewables, LLC in an all-cash transaction. Flint Hills Resources Renewables is an affiliate of Koch Industries, Inc. and Flint Hills Resources, LLC, a leading provider of transportation fuels used in the Upper Midwest. The purchase price for the transaction was not disclosed.

"Our transaction with Flint Hills Resources Renewables represents a favorable conclusion for our stakeholders," said James V. Continenza, Chairman of the Board of Directors of Hawkeye Renewables. "We are proud of our company, especially our employees who contributed to making Hawkeye Renewables a successful operation and an attractive opportunity for Flint Hills Resources Renewables."

About Hawkeye Renewables

Hawkeye Renewables has been an ethanol producer, specializing in ethanol and dried distiller grains, with plants in Iowa Falls and Fairbank, Iowa. Hawkeye Renewables' facilities currently produce approximately 225 million gallons of ethanol production per year. For more information, please visit http://www.hawkrenew.com/.

SOURCE Hawkeye Renewables, LLC