NEWS
Ethanol Plant to be Scrapped
Wed May 1, 2013 12:02 PM CDT

(Dow Jones) -- When the New Energy Corp. ethanol plant in South Bend, Ind., was idled by its bankruptcy filing last November, people nearby hoped a buyer would restart operations, and not just for its 90 jobs. The plant had sucked six million gallons of water a day from the surrounding swamplands, and without its pumps, water pooled in nearby basements.

But the winning $2.5 million bid at the bankruptcy auction came from buyers who plan to sell the plant for scrap.

The South Bend facility was the country's first major ethanol plant when it opened in 1984, and now ...

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