Valero shuts down two ethanol plants

Valero Energy Corp. reported that it had shut down two of its 10 ethanol plants with a combined capacity of 120 million gallons of ethanol per year. The plants in Linden, Indiana, and Albion, Nebraska, had been temporarily closed due to rising corn prices and poor profit margins at these facilities. The two plants will resume operations before the autumn corn harvest, and all its employees will remain on the payroll and will continue working on maintenance jobs and other duties. (June 29, 2012)