Health Business Week
Welcome to NewsRx!
Learn more about a six-week, no-risk free trial of Health Business Week
We're a pay-per-view site for premium content. If you'd like to purchase this article, it's only $3.00.
Alon Usa Energy, Inc.
Alon USA Closes Acquisition of the Krotz Springs Refinery
July 25th, 2008
Alon USA Energy, Inc. (NYSE:ALJ) ("Alon") announced that it has completed the acquisition of the Krotz Springs refinery from Valero Energy Corporation (NYSE:VLO) ("Valero"). The purchase price of this transaction was $333 million in cash plus approximately $140 million for working capital, including inventories. "This latest acquisition is another step in our business plan to methodically grow our operations and expand our refining capacity. We anticipate that this transaction should generate strong free cash flow which should enable us to repay its associated debt in as early as three years," said David Wiessman, Executive Chairman of Alon. "We would like to thank...
Source: Health Business Week (2008-07-25)
|
