MGP Ingredients to reopen Illinois plant

AP News
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Posted: Nov 23, 2009 2:32 PM

MGP Ingredients Inc. says it has entered a partnership that will allow it to reopen distillery operations at a plant in Pekin, Ill.

The Atchison, Kan.-based company on Monday announced a joint venture with an affiliate of SEACOR Energy Inc. A separate entity, called Illinois Corn Processing LLC, will use the plant to produce food-grade and industrial-grade alcohol and ethanol.

The company said productions will begin in the "near future" and involving rehiring up to 60 employees who were laid off when MGP closed parts of the plant earlier this year.

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SEACOR paid MGP $15 million for its half of the partnership, which MGP said would be used to reduce debt. MGP expects to take $2.3 million in charges in its second quarter.


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