REG buys Sanimax biodiesel plant

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Ames-based Renewable Energy Group Inc. is buying Wisconsin biorefinery Sanimax for $11 million and 500,000 shares of REG stock. REG also will pay $5 million over seven years based on the volume of biodiesel produced at the plant. The facility will be renamed REG Madison LLC. The biorefinery, which opened in 2007, is located just north of Madison, Wis. and makes biodiesel from grease, animal fat, inedible corn oil and refined vegetable oils. Read the full news release