Renewable Energy Group to acquire three biodiesel plants with 105 Mgy in capacity; consolidated group to have stronger position when biodiesel revives

In Iowa, Renewable Energy Group will acquire the 30 Mgy Western Iowa Energy plant at Wall Lake, the 30 Mgy Central Iowa Energy biodiesel plant at Newton and the 45 Mgy Blackhawk Biofuels plant in Danville, Illinois. The four companies will be consolidated into a new entity, Renewable Energy Group, in a transaction that is expected to close this summer. Terms of the deal were not disclosed, but Renewable Energy Group management said that the consolidation will allow the consolidated company to compete more effectively as the demand for biodiesel grows.

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