China Integrated Energy, Inc. (CBEH) Closes on Purchase of Bio Diesel Plant
China Integrated Energy, Inc. reported that the company has closed on the acquisition of a bio diesel production facility located in China. The company said that it would increase production immediately from this facility. China Integrated Energy, Inc. said that the bio diesel facility is located in Chongqing City, China, and was purchased from Chongqing Tianrun Energy Development Co., Ltd. for $16.5 million, payable in cash at closing. The company said that it would fund the acquisition with cash on hand. China Integrated Energy, Inc. said that the acquisition will add $32 million in sales in 2011, and result in…