VERASUN EXPECTS BIG LOSSES
By KBMW NEWS • Nov 14th, 2008 • Share:
ETHANOL PRODUCER VERASUN ENERGY CORPORATION IS EXPECTING A THIRD QUARTER NET LOSS OF NEARLY $464 MILLION, THAT’S MORE THAN FOUR TIMES MORE THAN EARLIER ESTIMATES. TWO WEEKS AGO IT FILED FOR CHAPTER 11 BANKRUPTCY PROTECTION. VERASUN EARNED A PROFIT OF $7.8 MILLION IN THE THIRD QUARTER OF 2007. VERASUN IS AMERICA’S SECOND LARGEST ETHANOL PRODUCER WITH ABOUT 13 PERCENT OF THE NATION’S ETHANOL CAPACITY. VERASUN OPERATES A DRY MILL ETHANOL PLANT NEAR HANKINSON.
