Investors from the land down under are attracted to the Midwest Grain Processors ethanol plant in the northern Iowa town of Lakota. M-G-P Chairman David Nelson says an Australian Company called “Global Ethanol” has agreed to buy a 60-percent stake in the M-G-P plant which also owns an operation in Blissfield Michigan. The deal is contingent on some other factors before it becomes etched in stone, a favorable opinion from an investment banking advisor and a vote by the members of the cooperative, there are 13-hundred cooperative members in Iowa and ten other Midwestern states, the Michigan operation has 300 co-op members. The deal has the appearance of being the first time a foriegn company has bought a controlling interest in an ethanol plant orginated by Iowa farmers.
