ALL Fuels & Energy (AFSE.PK) to Acquire 46MM Gallons of Annual Ethanol Production
Today the company announced it has signed an exclusive letter of intent to acquire Ace Ethanol, LLC for $102.5 million. Ace Ethanol operates a 46 MM gallon per year Delta T design production facility in Stanley, WI. Dean Sukowatey, president of ALL Fuels & Energy "We are pleased to have reached this stage in our purchase of a quality ethanol producer with over $100 million in revenues and EBITA of over $33 million in 2006. ACE fits our model and strategically moves us closer to producing our goal of 500 MM gallons per year. We have worked with Ace for…