Altra Nebraska LLC to be sold piecemeal

By | October 06, 2009
Press release posted Oct. 15, 2009, at 2:46 p.m. CST

Maas Companies of Rochester, Minn., will auction the Altra Nebraska LLC 110 MMgy partially-completed ethanol plant on Oct. 28 at 10 a.m. local time onsite at 2182 Road 5600, Carleton, Neb.

The plant was available for an entirety purchase through Oct. 13. No party completed the entirety purchase protocol; therefore the plant will be sold piecemeal at auction. The auction manner of sale will include offering all real estate as one tract and the equipment or equipment lots individually. The auction will offer buyers the opportunity to bid in person or live via the internet.

Altra Nebraska LLC began construction of this facility in 2006 and work halted in November 2007 when additional financing could not be obtained due to unseen economic challenges. The plant was expected to be one of Nebraska`s largest ethanol plants, employing more than 50 people and utilizing more than 36 million bushels of corn for feedstock. The liquidation of the assets comes as part of the Chapter 11 filing in August.

Potential buyers are encouraged to attend the open houses:

  • Monday, Oct. 26, 10 a.m. to 5 p.m.
  • Tuesday, Oct. 27, 10 a.m. to 5 p.m.
  • Other times by appointment.

    Details of the sale are available at the Maas Companies auction website, or by contacting them directly at (507) 285-1444.