A forestry contractor based in Chapleau, Ont., is buying a wood pellet mill that currently serves the Atikokan Generating Station from its bankrupt owner Rentech.
Northern Ontario Business reports that “a numbered company (2607043 Ontario Inc.), affiliated with True North Timber signed an asset purchase agreement on Dec. 11 to buy the Atikokan mill which was put for sale by debt-ridden Rentech last fall.”
Rentech, a producer of pellets and wood chips, has filed for Chapter 11 bankruptcy in the U.S.
Rentech’s wood pellet mill in Wawa, Ont., was idled last year “due to chronic mechanical problems and the cost associated with fixing it,” according to the Northern Ontario Business story.
Read the full article here.