Agri Energy hibernates operations

Australian-based Agri Energy, which has put on hold plans to build ethanol plants in Wimmera-Mallee at Swan Hill and Murtoa, has hibernated its operations. The company shelved the plans last year, but said it remained committed to the project in the long term. It has now terminated the positions of all staff except the chief executive, including two staff at Swan Hill, and placed standstill agreements in place with major creditors while it sells assets. Chief Executive Peter Anderton says he still believes the plants will eventually be built. (June 5, 2008)