August 14, 2017,
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Nova Scotia forestry company Great Northern Timber Group is poised to buy and restart the shuttered Musquodoboit pellet mill Atlantic Biomass Company. Wednesday, Great Northern’s CEO Thor Olesen told The Chronicle Herald his company has a tentative agreement with the Halifax office of receiver Grant Thornton to buy the plant’s machinery and equipment, along with its 157-acre property and 22-acre adjoining woodlot… by the Chronicle Herald
The Mackenzie Plant sold 51.0 gigawatt hours of electricity under our EPA in the second quarter of 2017, which represents approximately 94 per cent of targeted operating rates, compared to 85 per cent in the previous quarter and 100 per cent in the second quarter of 2016. Electricity sales and plant operating costs in the first quarter of 2017 were impacted by some unplanned outages and challenging weather conditions earlier in the quarter, which somewhat impacted feedstock quality and deliverability… by Conifex Timber
Revenues were $3.2 million for the second quarter of 2017, earned by delivering approximately 23,000 metric tons of wood pellets. Revenues were $6.5 million for the second quarter of 2016, earned by delivering approximately 56,000 metric tons of wood pellets. Revenues were lower due to the idling of the Wawa facility and lower operating rates at the Atikokan facility. Gross loss for the second quarter of 2017 was $(1.6) million, as compared to $(5.2) million for the same period in the prior year. Gross loss margin was (50)% for the second quarter of 2017, as compared to (80)% for the same period in the prior year. The decrease in gross loss was primarily due to the idling of the Wawa facility, restructuring of operations at the Atikokan facility, and a related $4.3 million reduction in inventory write-downs… by Rentech.