By Colin Kellaher
Alto Ingredients on Friday said it plans to cold idle its Magic Valley, Idaho, facility at the end of the year due to forecasts of very low to negative crush margins in the West in the first quarter 2025.
The Pekin, Ill., producer of specialty alcohols, renewable fuels and essential ingredients said the move is aimed at minimizing anticipated financial losses, adding that it will continue to provide terminal services at the plant.
Alto said it plans to resume operations at the Magic Valley plant when the economic environment improves on a more sustainable basis.
Alto's Magic Valley biorefinery, which began operations in 2008, sells ethanol, wet distillers grains and corn oil, according to the company's website.
Alto temporarily hot-idled the Magic Valley facility in January this year to minimize losses from negative regional crush margins and to expedite the installation of additional equipment, and it restarted the facility in July.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 29, 2024 09:37 ET (14:37 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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