Boston, MA 06/20/2014 (wallstreetpr) – The one stop service provider of comprehensive and integrated range of wood processing business, Rentech, Inc. (NYSE:RTK) is moving towards expanding its footprint and services in Chile. It has announced to take its wood chipping capacity and processing services in Chile. Further, it has also participated in strategic conference for outlining its strategies and goals for coming quarters.
Taking Step towards Expansion
Rentech, Inc. (NYSE:RTK) has recently announced that it is moving towards expansion of its business in collaboration with its subsidiaries. The company highlighted the signing of a long term agreement related to processing with its subsidiaries. The lists of subsidiaries that are part of the agreement include Fulghum, Forestal Pacifico and Astex Ltda. The new processing agreement outlines the expansion of volume of eucalyptus wood that will be sold and processed under a contract to Astex Ltda. The agreement has an option to extend the same with two additional five year terms. It also enumerates guaranteed minimum volumes using multiple fee arrangements.
Fulghum is expected to reconstruct its current mill in Chile for increasing the production capacity. This will lead to expansion of the annual processing capacity of the mill from 180K BDMT to 400K BDMT of logs with bark. Further, it will also boost the logs processing capacity without bark from 40k to 100 k BDMT/year. This will in turn confer the status of largest Fulghum Fiber Chip upon the mill. Rentech’s subsidiary has taken up the work of converting the bark from the mill into biomass fuel, and selling the same to consumers.
Conference Time
Rentech, Inc. (NYSE:RTK) has recently participated in one of the most strategic conferences to discuss its new strategies and outlook in the coming quarters. The company participated in the Bank of America Merrill Lynch 2nd Annual Global Energy and Power Leverage Finance Conference that was held in New York. RTK discussed about its upcoming projects and strategy in the conference.
