Rentech offers update on Ontario wood pellet facilities
November 20, 2015
November 20, 2015 - The Atikokan facility achieved record production of approximately 1,850 metric tons of pellets for the week ended Nov. 14. The plant’s design capacity is 110,000 metric tons per year, or 2,115 metric tons per week.
The Wawa facility resumed pellet production this past Friday, having been offline to modify the log in-feed system and complete the most critical phase of its conveyer replacements. Wawa has been operating at approximately 30 per cent of design capacity since coming online, and is again shipping pellets to the port of Quebec, for delivery to Drax. Rentech expects to complete the second phase of conveyance replacements at Wawa in the first quarter of 2016, with the goal of operating at full capacity in the second half of the 2016.
About Rentech, Inc.
Rentech, Inc. (NASDAQ: RTK) owns and operates wood fibre processing, wood pellet production and nitrogen fertilizer manufacturing businesses. Rentech offers a full range of integrated wood fibre services for commercial and industrial customers around the world, including wood chipping services, operations, marketing, trading and vessel loading, through its subsidiary, Fulghum Fibres. The Company’s New England Wood Pellet subsidiary is a leading producer of bagged wood pellets for the U.S. heating market. Rentech manufactures and sells nitrogen fertilizer through its publicly-traded subsidiary, Rentech Nitrogen Partners, L.P. (NYSE: RNF). Please visit www.rentechinc.com and www.rentechnitrogen.com for more information.
Safe harbour statement
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 about matters such as the operating performance of our Canadian wood pellet facilities and the timing for bringing our Canadian wood pellet plants to full capacity. These statements are based on management’s current expectations and actual results may differ materially as a result of various risks and uncertainties. Other factors that could cause actual results to differ from those reflected in the forward-looking statements are set forth in the Company’s prior press releases and periodic public filings with the Securities and Exchange Commission, which are available via Rentech’s website at www.rentechinc.com. The forward-looking statements in this press release are made as of the date of this press release and Rentech does not undertake to revise or update these forward-looking statements, except to the extent that it is required to do so under applicable law.
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