Panda sells Hereford ethanol plant

Panda Ethanol's Hereford facility which filed for bankruptcy in January, has been sold for $25 million to it's creditors. The plant is in the final stages of construction.

The U.S. Bankruptcy Court for the Northern District of Texas-Dallas Division finalized the sale of the plant to senior lenders of the company for $25 million in credit.

The sale price represents about 12% of the cost to construct the plant.

Source : Amarillo.com