Tri-City Energy Biodiesel Plant real estate and equipment to be sold via court-ordered auction on Wednesday, Dec. 16, 2009
KEOKUK, IOWA, November 11, 2009. Maas Companies of Rochester, MN will auction the 5 MGY Tri-City Energy Biodiesel Refinery Wednesday, Dec. 16, 2009 at 10 a.m. onsite at 219 S. 5th Street, Keokuk, Iowa. It is conducted in conjunction with Iowa District Court in and for Lee County.
Founded in 2006, Tri-City Energy is a privately-held company and the 11th biodiesel plant in Iowa to begin production using soybean oil as a primary feedstock. Recent news reports indicated the plant was being purchased by an overseas entity, however the mortgage is still in default and the court-ordered auction is proceeding as planned.
Buyers will have the option of purchasing plant equipment and real estate as one tract. The facility has an extensive lab that will be available for purchase as a second tract, independent of the real estate and process equipment. A detailed equipment catalog is available by contacting Maas Companies at (507) 285-1444 or at the auction website, www.maascompanies.com.
The court-ordered sale is pursuant to foreclosure proceedings and the property will be sold subject to court approval.
Potential buyers are encouraged to attend the open houses:
Wednesday, November 18, 11a.m. to 4 p.m.
Thursday, November 19, 11a.m. to 4 p.m.
Tuesday, December 15, 11a.m. to 4 p.m.
Other times by appointment.
Details of the sale are available on the Maas Companies website, www.maascompanies.com, or by contacting the auction company directly at (507) 285-1444.