Ethanol maker to cut production, lay-off employees

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MGP Ingredients Incorporated is getting out of the ethanol business.

The company will temporarily shut down a food-grade distillery in Pekin starting this week. Sixty-five workers will be laid off.

The Kansas-based company says it will end virtually all of its ethanol production because of the extreme price swings for ethanol.

It says the volatility in corn prices and lower oil and gasoline prices have made it difficult to generate value for the business.

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