The Joplin Globe, Joplin, MO

Business

July 29, 2013

Syntroleum says purchase offers received

TULSA, Okla. — Tulsa-based Syntroleum Corp. says it has received unsolicited offers for the company or its assets and that it is considering the propositions.

The company, which is engaged in a joint venture with Springdale, Ark.-based Tyson Foods Inc., says it has hired an investment banker to review its options.

Syntroleum and Tyson Foods together own Dynamic Fuels LLC, which has a plant in Geismar, La., that produces biodiesel from animal fats and greases. The refinery started production several years ago but is now on “full standby mode.” Syntroleum says the plant is ready for commercial production.

The Tulsa World reports that other companies, in part, are interested intellectual property owned by Syntroleum, such as its patents.

Syntroleum reported first-quarter net income of $11 million and a $2 million net loss.

 

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