WQOW TV: Eau Claire, WI NEWS18 News, Weather, and SportsArea ethanol plant up for sale

Area ethanol plant up for sale

Eau Claire (WQOW) - An area ethanol plant is now on the market. Western Wisconsin Energy has plans to sell its facility near Boyceville.

A Colorado firm, that's been hired to act as an advisor, says there were two reasons the board of directors decided to sell. Number one, they wanted to create a successful plant and believe they've achieved that. The second reason has to do with a group of investors that could have required the board to buy back their stock, and because that transaction would be significant, it could've force the board to take on more debt which it didn't want to do.

The plant started operations in 2006 and has about 35 employees. It produces 55 million gallons a year.

The firm says they'll be taking initial offers until mid to late August. They hope to close by the end of the year. A sale price has not been solidified. A Minnesota ethanol plant that's similar in production to the Boyceville plant was recently sold for $55 million.