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BRIEF-Rentech idles Wawa facility, exploring strategic alternatives
February 21, 2017 / 11:45 AM / 10 months ago

BRIEF-Rentech idles Wawa facility, exploring strategic alternatives

Feb 21 (Reuters) - Rentech Inc:

* Rentech idles Wawa facility; exploring strategic alternatives

* Rentech Inc- exploring strategic alternatives for Wawa facility and company as a whole

* Exploring strategic alternatives for Wawa facility and company as a whole

* Rentech Inc - pellet sales at NEWP continue to be sluggish

* Rentech Inc - customer plans to exercise purchase option for two of Fulghum’s U.S. mills

* Rentech Inc - Atikokan facility production being reduced to levels required to fulfill OPG off-take contract

* Rentech - Wawa operations team will immediately begin a safe and orderly idling of facility, which company expects to complete in approximately two weeks

* Rentech Inc- Rentech expects to incur a significant asset impairment charge relating to Wawa and Atikokan facilities in its Q4 2016 results

* Rentech -decision results from continued uncertainty around profitability on pellets produced at facility, making additional investment in facility uneconomic

* Rentech Inc- expect Atikokan facility to generate cash flow in range of break-even to slightly positive in 2017 under the revised operating plan

* When facility is idled, a small workforce will remain in place; remainder of workforce will be placed on a temporary layoff Source text for Eikon: Further company coverage:

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