(AP) — The oldest ethanol plant in Indiana is cutting about 30 jobs this summer and the company that owns the plants is up for sale.

New Energy Corp. officials say the layoff of about 25 percent of the employees from the ethanol plant in South Bend will take place in July. The plant opened in 1984 will have about 100 workers after the layoffs.

New Energy president Russ Abarr tells the South Bend Tribune that the job cuts aren't related to a push in Washington to end tax credits for ethanol production. He blamed the cutback on troubles with corn availability and an oversupply of ethanol.

Abarr says the family that owns the South Bend-based company has decided to sell it, but that the business isn't in financial trouble.

Source: Associated Press