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Heron Lake Ethanol Plant Sale Falls Apart

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Heron Lake -

The sale of the Heron Lake Ethanol Plant to Guardian energy has fallen apart, just a few months after the sale was thought to virtually be a sure thing. The plant's general manager Bob Ferguson says after negotiations between the two parties came to an impasse, the plant's board decided to terminate the purchase agreement. The plant is currently 37.5 million dollars in debt. Ferguson says the board will decide it's next course of action within a month, adding that the plant is currently running full steam ahead, and will stay open in one form or another. Heron Lake began producing ethanol in 2007 and has 31 full-time employees.