Alon USA Announces Restart of Big Spring Refinery Fluid Catalytic Cracking Unit

abarrelfull wrote on 08 Nov 2012 08:39
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Sept. 26th 2008

Alon USA Energy, Inc. (NYSE: ALJ) announced today that it has restarted its 24,000 barrel-per-day (bpd) Fluid Catalytic Cracking Unit ("FCCU") at its refinery in Big Spring, Texas. The FCCU, damaged in a fire on February 18th of this year, is operating at planned rates and will enable the refinery to return to its 70,000 bpd operating capacity.

Jeff Morris, Alon's President and Chief Executive Officer, commented, "I am extremely proud of the performance of my colleagues at the Big Spring Refinery in returning this major unit to operations so professionally and quickly. We are grateful for the support of our insurers who have already advanced us $250 million and the Big Spring community and for the work of our contractors, vendors and suppliers.

"I would like to also thank Israel Discount Bank and Bank Leumi for their continued support. In addition, I want to express our gratitude to Credit Suisse and Bank of America for providing us with financing to support our acquisition of the Krotz Springs Refinery.

"I am also humbled and encouraged by the support of our majority owner Alon Israel, our Board of Directors and our Executive Chairman David Wiessman who have been unfailing in their support, including the $80 million of equity provided to purchase Krotz Springs and the $55 million of Letter of Credit support from Alon Israel. We have all been heartened by this concrete example of support by our employees, our leadership, our majority investor and our banks. We intend to demonstrate that their support is well placed."

• Alon USA Announces Restart of Big Spring Refinery Fluid Catalytic Cracking Unit

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