Rentech Inc, which owns and operates wood fibre processing and wood pellet production facilities, reported 19.3 % decrease of revenues and negative Consolidated Adjusted EBITDA in 1Q2017 y-o-y. According to the announcement, the company’s revenues accounted for USD 32.2 million, generating Consolidated Adjusted EBITDA of negative USD (6.1) million.
The consolidated results consist of Fulghum Fibres (Fulghum), New England Wood Pellet (NEWP), Industrial Wood Pellets and unallocated corporate expenses. The former Rentech Nitrogen Pasadena and East Dubuque facilities are classified as discontinued operations.
Earlier Rentech appointed a new CFO.
About Rentech Inc:
The company owns and operates owns and operates wood fibre processing and wood pellet production businesses. It 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’s industrial wood pellet facilities are designed to produce wood pellets used as fuel for power generation.