November 25, 2008

Poet in buyout talks with other ethanol producers

POET LLCPOET LLC, the nations largest ethanol producer said in an AP article that it was in buyout talks with a number of ethanol companies.

"We just feel there is a lot of promise in the future of the ethanol industry," said Jeff Broin, chief executive of privately held Poet.

He offered no specific timetable and mentioned no company names.

As I mentioned in my last post, VeraSun announced in a press release that it had an indication of interest for purchasing it's assets. As far as I know these two events are separate.

Broin did say in the article that they were looking at entire ethanol companies and plants that were in favorable locations and had the right amenities.

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