Rentech Announces Organizational Changes to Improve Performance of Fibre Business
August 25 2015 - 7:00AM
Business Wire
Rentech, Inc. (NASDAQ: RTK) today announced organizational
changes designed to improve the operations and execution
capabilities of its fibre operations.
Sean Ebnet is no longer serving as the senior vice president of
wood fibre and his last day with the Company will be September 30,
2015. Steve Roberts, managing director of Canada, who has led the
team responsible for establishing and maintaining customer and
commercial relationships for Rentech’s industrial wood pellet
business, will now also lead growth initiatives for this segment of
our fibre business. Mr. Roberts has an extensive background in the
forest industry, with specific experience in operations management,
biomass supply chain management and business development.
Dennis Corn, vice president of projects, is responsible for
overseeing the completion of the Wawa and Atikokan projects to full
production capacity. Mr. Corn is working with our teams on the
ground in Ontario and a newly engaged independent engineering firm
to identify and resolve the issues limiting full production of the
Canadian projects. Mr. Corn’s career spans over 35 years, with a
proven track record of successfully developing, managing and
completing large complex projects, including natural gas fired,
coal fired, geothermal, and biomass to power projects and coal and
natural gas-to-liquids projects.
Kevin Cain will now serve as vice president of our wood chipping
business. In this role, Mr. Cain will focus on improving operating
and financial performance at all 26 U.S. Fulghum Fibres mills,
along with growing Fulghum’s wood chipping business in North
America. His leadership at Fulghum has contributed to improved
financial performance at the business this year. Mr. Cain is a
long-time veteran of the paper and forest products industry, having
held roles in forestry, supply chain management, operations and
business development.
Mark Wilson, CEO of New England Wood Pellet (NEWP), will
continue to manage NEWP’s four operating facilities and grow NEWP
through acquisitions of wood pellet facilities in the commercial
heating market.
Messrs. Roberts, Corn, Cain and Wilson will report to Keith
Forman, president and CEO of Rentech, effective immediately.
Mr. Forman stated, “Today’s changes mark the beginnings of
reorganizing Rentech. With the pending sale of our largest
fertilizer asset, we are transitioning to a simpler, more
cost-efficient organization model.”
Mr. Forman continued, “We are appreciative of Sean’s efforts in
launching our diversified fibre strategy. I am confident the
organizational changes I am implementing will create a focus on our
operational and financial goals to position Rentech for
success.”
About Rentech, Inc.
Rentech, Inc. (NASDAQ: RTK) owns and operates wood fibre
processing, wood pellet production and nitrogen fertilizer
manufacturing 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 leading
producer of bagged wood pellets for the U.S. heating market.
Rentech manufactures and sells nitrogen fertilizer through its
publicly traded subsidiary, Rentech Nitrogen Partners, L.P. (NYSE:
RNF). Please visit www.rentechinc.com and www.rentechnitrogen.com
for more information.
Safe Harbor Statement
This press release contains forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995.
These statements are based on management’s current expectations and
actual results may differ materially as a result of various risks
and uncertainties. Other factors that could cause actual results to
differ from those reflected in the forward-looking statements are
set forth in the Company’s prior press releases and periodic public
filings with the Securities and Exchange Commission, which are
available via Rentech’s website at www.rentechinc.com. The
forward-looking statements in this press release are made as of the
date of this press release and Rentech does not undertake to revise
or update these forward-looking statements, except to the extent
that it is required to do so under applicable law.
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version on businesswire.com: http://www.businesswire.com/news/home/20150825005418/en/
Rentech, Inc.Julie Dawoodjee CafarellaVice president of
Investor Relations and Communications310-571-9800ir@rentk.com
Rentech, Inc. (NASDAQ:RTK)
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