Ord Talk

Verasun must sell seven of its plants, including Ord and Central City, as a part of a court approved Debtor-in-Possession plan. The financing plan totaling 25.2 million dollars will allow Verasun to keep 7 former US BioEnergy plants in a "hot idle" mode until April 30th. The lender, AgStar Financial Services, required the sale of the seven plants as a condition of the financing. The DIP financing allows Verasun to pay employees until April 30th and keep the plants in "hot idle" status. The "hot idle" keeps the plants marketable to buyers and makes it easier for the plant to resume production after the sale The plants to be sold were plants that Verasun bought from US BioEnergy and are as follows Ord,NE Central City,NE Albert City,IA Dyersville,IA Woodbury,MI Janesville,MN Hankinson,ND The plants are to be sold beginning on March 16 and ending on March 31. Acording to a Verasun spokesperson, the sale of these plants is seperate to ongoing talks Verasun has had with a buyer for all of its assets.