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Tate&Lyle writes off Iowa ethanol plant

Tate&Lyle writes off Iowa ethanol plant

British sugar refiner Tate & Lyle PLC says it won't restart construction of an ethanol plant in Fort Dodge, Iowa in the foreseeable future.
Tate & Lyle, which also produces bulk ingredients, said Thursday that it had written off a loss of 217 million pounds ($316 million) on the project.
Work on the plant has been suspended since March of last year.
Tate & Lyle says its decision was based on the depressed and volatile outlook for ethanol and uncertain conditions in industrial starch and corn gluten feed markets.


Updated : 2020-11-30 04:45 GMT+08:00