Sep 22 2016
German Pellets two US pellet plants, combined capacity 1 million ton are for sale.
business.conbio.info/2016-09-22/ The two bankrupted German Pellets US pellet plants are now for sale. Their combined capacity is 1 million ton. Both are operating and producing pellets reports Argus Biomass market.
In Urania, Louisiana, the Lousiana Pellets have in the summer restarted production at a rate of 1000 t/day. It halted production in december 2015 before it did apply for chapter 11 bankruptcy in February 2016. The Texas Pellets plant in Woodville, was never halted and is producing at capacity, also after it bankruptcy in May. Texas Pellets also owns and operate a storage facility and shipping terminal in Port Arthur.
The sale of the Louisiana plant is coordinated by the US investment banking firm Headwaters MB together with the consulting firm Saltbox partners. The sale for the Texas plant is coordinated by US investment bank Guggenheim Securities. Initial indications of interest for both sales are due by mid-October.
German Pellets was earlier the largest pellet producer in the world. After the bankruptcy most of it’s units are sold and again operating or preparing to restart. In several articles we have reported about German Pellets expansion and collapse.