Stanley (WQOW) - A Winnebago County judge has approved the sale of an ethanol plant in Oshkosh to Stanley's Ace Ethanol. The price tag is $16.5 million.
The deal still must be approved by shareholders at a meeting later this month. If that happens, production could begin at the Oshkosh plant around harvest time. The ethanol plant there was known as Utica Energy. It started operating in 2003 and produced about 50 million gallons a year, but has been going through foreclosure proceedings since late last year.
Neal Kemmet, the president & general manager of Ace Ethanol, says the Oshkosh plant will be called Fox River Valley Ethanol. The plant is a little larger than the one in Stanley. Kemmet says it may be necessary to add local jobs to support the acquisition. The Stanley plant has 43 employees. There are nine ethanol plants in the state.