NEWS

Drax bids to acquire two distressed US pellet plants

Monday, Mar 20, 2017

Drax has been notified that the sellers of Texas Pellets and Louisiana Pellets have delayed the processes for the sale out of bankruptcy of these assets, originally scheduled for 1 and 2 March. It is expected that these processes will continue during March, as the company says in the press release received by Lesprom Network.

Drax previously notified the market of its participation in these processes and had submitted initial cash bids for the operating assets of Texas Pellets and Louisiana Pellets. Drax remains an interested party in the acquisition of these assets.

Drax has indicated its intention to expand its self-supply compressed wood pellet operations to support 20-30% of its generation requirement.

Texas Pellets, Inc. and German Pellets Texas, LLC and Louisiana Pellets, Inc. and German Pellets Louisiana, LLC are currently going through Chapter 11 bankruptcy processes in the United States and are seeking purchasers for substantially all of their assets.

 

Source: lesprom.com

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