Fergus ethanol plant files for bankruptcy
FERGUS FALLS, Minn. - Otter Tail Ag Enterprises, which operates an ethanol plant here, has filed for Chapter 11 bankruptcy, the company announced.
The move - to which the plant's lenders agreed - will give Otter Tail Ag Enterprises more time to work out its financial problems.
The plant, which has 30 employees and can produce 55 million gallons of ethanol annually, remains open. It continues to buy corn, make ethanol and sell distiller's grain, a byproduct of ethanol.
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