 
|
Renewable Energy Group completes acquisition of U.S. Biodiesel
STOCKTON July 1, 2008 12:03am 
• Receives regulatory approval • Deal includes Stockton liquid storage terminal Iowa-based Renewable Energy Group says it has received regulatory approval to complete its previously announced acquisition of a biodiesel production facility in Houston, Texas, and a liquid storage terminal in Stockton.
Construction of the biodiesel facility is complete and Renewable Energy Group expects biodiesel production to begin July 7.
The REG Houston facility could produce 35 million gallons per year it it runs at, or near, full capacity, the company says.
Under the contract, REG will manage production operations and ensure the finished biodiesel exceeds ASTM quality specifications. Soybean oil is expected to be the primary feedstock under the agreement.
The facility includes an on-site laboratory, raw material and finished product storage as well as truck, rail, deepwater and pipeline access.
With the completion of the acquisition, all former U.S. Biodiesel Group employees at the Houston facility remain there as part of the Renewable Energy Group staff.
|
|
