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World Biofuels
Symposium
November 13-15, 2005
Beijing, China
2nd Annual Canadian Renewable Fuels Summit
December 13-15, 2005
Toronto, Ontario, Canada
Hosted by:
Candadian Renewable Fuels
Association
National Biodiesel
Conference & Expo 2006
February 5-8, 2006
San Diego, California
Organizer:
National Biodiesel Board
11th Annual
National Ethanol Conference: "Policy & Marketing"
February 20-22, 2006
Las Vegas, Nevada, USA
Sponsored by:
Renewable Fuels Association
22nd
Annual International Fuel Ethanol Workshop & Expo
June 20-23, 2006
Milwaukee, Wisconsin, USA
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Posted on
August 1, 2002Justice Reviews Merger of Ethanol Firms
WASHINGTON (Reuters) - The U.S. Justice Department said on Wednesday it was
reviewing Archer Daniels Midland's possible purchase of its chief
competitor, Minnesota Corn Processors.
"The (antitrust) division is looking at the proposed transaction," said a
Justice Department official. The department did not elaborate on its review.
When talk of the deal first became public in May, a group of U.S. senators
urged the Justice Department to review it closely on fears that the
combination could come close to creating a monopoly.
The two companies combined would control almost half of U.S. production of
ethanol, which is made from corn and blended into gasoline to make motor
fuel burn more cleanly.
Democrats from California, New York, New Jersey and Vermont feared the
merger would have "severe repercussions on the price and supply of ethanol."
Decatur, Illinois-based ADM, one of the world's largest processors of
soybeans, corn, wheat and corn, is the largest U.S. producer of ethanol,
with about 41 percent of the market. Minnesota Corn Processors has about 6
percent of the ethanol market.
The acquisition would add 120 million gallons of ethanol production capacity
to ADM's current annual production of 950 million gallons.
Privately-owned Minnesota Corn Processors agreed in July to be acquired by a
unit of ADM for $396.2 million.
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