Pacific Ethanol (PEIX) Puts Magic Valley Facility Back Online

Pacific Ethanol just  announced that it is once again producing ethanol at its Magic Valley facility in Idaho. The plant hasn’t been in production since February 2009, when unfavorable market conditions caused Pacific Ethanol to shut it down.  The company received approvals from the court handling its bankruptcy petitions and from its lenders to restart production at the plant in December, and now it is up and running again.

In a press release, Neil Koehler, the Company’s Chief Executive Officer, commented on the news:

“We are pleased to restart our Magic Valley facility and we are grateful for the cooperation our lenders and other stakeholders have extended. The restart of the facility has also been well received by the local community.”

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