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NetworkNewsBreaks – Rentech, Inc. (NASDAQ: RTK) Plummets 45% on Halted Production at Wawa Facility

Company: Rentech, Inc. (RTK)
Category: Stock Spotlights

Shares of Rentech (NASDAQ: RTK) are down 46% following the company’s announcement that its board has decided to idle the Wawa facility due to equipment and operational issues that would require additional unbudgeted capital investment, as well as continued uncertainty around profitability on pellets produced at the facility. The company said it expects to complete a safe and orderly idling of the facility in approximately two weeks. After the plant is idled, a small number of workers will maintain the plant so that it can resume operations with minimal resources if there is interest from a third party to invest in or purchase the facility. Rentech anticipates idling the plant will conserve liquidity as it formally explores strategic alternatives for the company as a whole, as well as the plant, including ongoing discussions with third parties. The company also provided an update on other aspects of the business.

To view the full press release, visit: http://nnw.fm/xBR5e

About Rentech, Inc.

Rentech, Inc. (NASDAQ: RTK) owns and operates wood fibre processing and wood pellet production businesses. Rentech 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 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. For more information, please visit www.rentechinc.com.

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NetworkNewsBreak (NNB) provides a rapid summary of corporate news that caught the attention of NetworkNewsWire (NNW). NNB keeps you up-to-date on active US Public Companies complementary to NNW’s broader scope as a provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW is uniquely positioned to best serve private and public companies who need to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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