west central illinois | happyfarmer - 11/26/2015 20:56
Buying an asset like that at a big enough discount may be a good thing for the local areas around each plant...... Maybe the plants are not worth trying to run at all though.....don't really know because I have not researched each one.
110mgy plant built close to our home farm seemed very expensive to build from watching lots of extra dirt work and extra hauling, and from very poor layout.....big investment bank was money behind it....then they were taking hits from housing investments and ditched the plant at discount.....Flint Hills Energy bought it, guys that are backing or own Flint Hills Energy are really smart dudes.....plant is running better, and IMO will run well for a long time.
Bankruptcy of Abengoa might look bad right now, but in long run may be an ok thing for Industry.....maybe they were not running plants very well, and new owners will do a better job.
Just some thoughts.
its a restructuring bankruptcy. Not chapter 7. There is a big difference here. It states its restructuring in the article. |