Wed June 27, 2012
Valero Renewables suspends production
Corn prices are forcing a bio-fuel company to halt production at its plant in Linden.
Valero Renewables is temporarily suspending work.
Spokesperson Bill Day says it’s due to market conditions.
He says the price of corn is rising and ethanol prices are going down which is hurting the company's profit margins.
The 65-full time employees will continue to get paid and work at the plant during the shutdown, just not producing ethanol.
Day says he does not expect the suspension to last long and believes operations will return to normal soon.
The company made a similar move at another one of its plants in Nebraska last week.