Ethanol Segments Boost Companies' Bottom Lines
Third quarter financial reports from Valero Energy Corp. and Novozymes show that ethanol is one of the more profitable segments of the companies' operations, according to Ethanol Producer Magazine.
Valero’s ethanol segment earned $49 million of operating income in the third quarter, more than double its earnings from the previous quarter.
After a difficult first-half of 2009, Novozymes said enzymes for ethanol production developed "especially well" in the quarter, helping to bring the year from a loss to a break-even. Favorable ethanol prices compared to gasoline prices combined with more ethanol plants coming online resulted in increased demand for its enzymes in the third quarter.
(Ethanol Producer Magazine, Oct. 28, 2009)
(
http://www.ethanolproducer.com/…)
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Ethanol Segments Boost Companies' Bottom Lines
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