Alternative fuels company ending all R&D, selling land
by Associated Press
Published: March 1,2013
NATCHEZ — Rentech Inc. says it plans to mothball its alternative-energy product demonstration facility in Commerce City, Colo., and end all related research and development activities, which will mean cutting 65 employee and contractor positions by mid-year.
CEO D. Hunt Ramsbottom says the company intends to focus instead on opportunities for more immediate profitability.
Rentech says it will try to sell the Commerce City unit, plus 450 acres it acquired in Natchez for the development of an alternative energy facility.
It says closing the demonstration unit should reduce expenses related to its research activities, facilities and technologies to fall to about $10 million this year from about $21 million in 2012.
To sign up for Mississippi Business Daily Updates, click here.
One Response to “Alternative fuels company ending all R&D, selling land”
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Panther Creek megasite — Putting a value proposition out there
- BBB issues warning involving asphalt paving scam
- Prescription for success — Transcript Pharmacy continues fast growth
- Study: Mississippi has highest sales tax rate in U.S.
- Panther Creek's location in medical industry zone boosts bio-med prospects
- Mississippi State makes NSF ranking of research universities
- TVA president/CEO Johnson tours Techumseh, Yokohama plants
- Sawtimber, pulpwood markets improving, but challenges remain
- News The Way You Want It!
- Chris McDaniel responds to radio show audio clip