Rentech, Inc. (NASDAQ: RTK) announced today that a subsidiary of the Company has closed the sale of approximately 450 acres in Natchez, Mississippi to Adams County, Mississippi for proceeds of approximately $9 million.
D. Hunt Ramsbottom, President and CEO of Rentech, said, “The sale of the Natchez site is consistent with our stated intention to dispose of our non-core alternative energy related assets.” Mr. Ramsbottom continued, “We remain focused on the significant opportunities within our newly launched wood fibre processing business as well as growth in our nitrogen fertilizer business.”
About Rentech, Inc.
Rentech, Inc. ( www.rentechinc.com) owns and operates wood fibre processing and nitrogen fertilizer manufacturing businesses. The wood fibre processing business consists of the provision of wood chipping services and the manufacture and sale of wood chips, through a wholly-owned subsidiary, Fulghum Fibres, Inc., and the development of wood pellet production facilities. Rentech’s nitrogen fertilizer business consists of the manufacture and sale of nitrogen fertilizer through its publicly-traded subsidiary, Rentech Nitrogen Partners, L.P. (NYSE: RNF). Rentech also owns the intellectual property including patents, pilot and demonstration data, and engineering designs for a number of clean energy technologies designed to produce certified synthetic fuels and renewable power when integrated with third-party technologies.Safe Harbor Statement This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 about matters such as growth opportunities within the Company’s wood fibre processing and nitrogen fertilizer businesses. 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.