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Hawkeye Energy CEO Statement on Valero-VeraSun Transaction

Posted on: Wednesday, 18 March 2009, 15:08 CDT

AMES, Iowa, March 18 /PRNewswire/ -- Bruce Rastetter, CEO of Hawkeye Energy Holdings issued the following statement regarding the auction of VeraSun Energy Corporation assets:

"I would like to congratulate Valero and welcome them into the ethanol production business. We are very pleased that one of the nation's leading oil refiners has decided to invest in the ethanol industry. As the nation moves toward E-15 blending, ethanol will remain an increasingly key component of America's gasoline supply and move us closer to energy independence. We look forward to working with Valero and other industry leaders as the ethanol industry continues to grow."

VeraSun Energy Corporation announced yesterday that it selected Valero Renewable Fuels as the successful bidder for its production facilities in Aurora, South Dakota; Albert City, Charles City, Ft. Dodge, and Hartley, Iowa; Welcome, Minnesota; and Albion, Nebraska.

Hawkeye Energy Holdings and its affiliates have 450 million gallons of ethanol production capacity located in Iowa. Hawkeye Energy Holding's affiliate Hawkeye Gold markets ethanol and distillers grains for Hawkeye's plants and for several third party plants. Hawkeye is headquartered in Ames, Iowa.

SOURCE Hawkeye Energy Holdings


Source: PR Newswire

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