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Saturday, March 29, 2008

Northeast Kansas company goes bankrupt

A Northeast Kansas Ethanol company is going bankrupt.

Ethanex Energy filed for Chapter 7 bankruptcy this week.

At one point, Ethanex planned to build three ethanol plants.

Now the company has shut down and canceled an agreement to buy a facility in Nebraska.

The ethanol industry is suffering from surging prices for corn and lower ethanol prices resulting from oversupply.

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