Rentech Closes Sale of Natchez Site for $9 Million
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Rentech, Inc., Los Angeles, Calif., USA, this week reported that a subsidiary of the company has closed the sale of approximately 450 acres in Natchez, Miss., to Adams County, Miss., for proceeds of approximately $9 million. D. Hunt Ramsbottom, president and CEO of Rentech, said that "the sale of the Natchez site is consistent with our stated intention to dispose of our non-core alternative energy related assets."
Ramsbottom added that "we remain focused on the significant opportunities within our newly launched wood fiber processing business as well as growth in our nitrogen fertilizer business."
Rentech owns and operates wood fiber processing and nitrogen fertilizer manufacturing businesses. The wood fiber processing business consists of wood chipping services and the production and sale of wood chips, through a wholly-owned Georgia-based subsidiary, Fulghum Fibres Inc., and the development of wood pellet production facilities. Rentech also owns the intellectual property, including patents, pilot, and demonstration data, and engineering designs for a number of clean energy technologies designed to produce certified synthetic fuels and renewable power when integrated with third-party technologies.
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