Allegro to Sell Biodiesel Venture

Allegro Biodiesel (Los Angeles) has signed a letter of intent to sell its biodiesel venture Vanguard Synfuels, which operates a 12-million gal/year biodiesel plant at Pollock, LA, to investor group Port Asset Acquisition. The deal is expected to close June 30. Allegro says that due to the unrelenting high cost of soybeans over the last several months the company has been unable to turn a profit producing biodiesel from soybeans. Allegro says it will continue as a non-operating entity and will develop a new corporate...

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