The site was shut following an explosion last Monday.
Alon USA Energy Inc. (NYSE:ALJ) has reopened the truck rack at its Big Spring refinery in Texas. The company added that all its other racks have remained operational since the explosion last Monday.
Alon USA president and CEO Jeff Morris said, "We are pleased with the progress we are making in returning the Big Spring refinery to service. This is the first step of many. We are currently ahead of our own internal schedule and continue to be optimistic about returning to the first stage of operation producing gasoline, diesel and asphalt within 60 days. I want to thank all my colleagues both at Alon and in Big Spring for their tireless efforts in getting this part of the Big Spring facility started so quickly."
The Big Spring refinery is located 290 miles west of Dallas in West Central Texas. It employs approximately 170 people and is one of four Alon refineries.
Both Standard & Poor's and Moody's lowered their outlook for Alon USA from "Positive" to "Developing" following last Monday's blast. Alon USA's share ended trading on Friday down 1.9% at $16.29, giving the company a market cap of $762.5 million.
Published by Globes [online], Israel business news - www.globes.co.il - on February 24, 2008
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