Alternative fuels company ending all R&D, selling land
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
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- DAVID DALLAS: Mr. McDaniel goes to Washington
- Moon River Foods creating 100 jobs in Mississippi Delta
- Judge to hear from True the Vote as McDaniel attempts to overturn loss to Cochran
- Google chooses Mad Genius as example of Internet use
- Weyerhaeuser investing $57M to modernize lumber mill
- Two BancorpSouth mergers delayed by federal inquiries
- Health officials identify another case of chikungunya virus
- Biloxi council approves $29M contract for baseball stadium construction
- Wasted away — Margaritaville in Biloxi to close by Sept. 19
- Cochran continues to question EPA over new regulations