EQM to Sell Biodiesel Business to Delek Renewables

Abstract

Cincinnati, OH-based EQM Technologies & Energy, Inc announced January 2 that it entered into an agreement to sell its 12 million-gallon-per-year biodiesel production facility in Cleburne, Texas and related assets to Delek Renewables LLC, a wholly owned subsidiary of Delek US Holdings Inc, for about US$5.3 million in cash. The transaction, which has been approved by EQM's board of directors, is expected to close on or before January 23, according to a statement issued by the company, and is subject to customary closing conditions.