Rentech Announces Organizational Changes to Improve Performance of Fibre Business
By Business Wire News
By Business Wire News
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.
Julie Dawoodjee Cafarella
Vice president of Investor Relations and Communications