In December 2017, Rentech WP Canada, the Candian wood pellet subsidiary of US-headed wood fibre processing and pellet producer Rentech Inc., applied to the Ontario Superior Court of Justice for the appointment of a receiver and manager, to facilitate the sale or liquidation of its Wawa production facility in Ontario. Grant Thornton Ltd was appointed by the Court as the Receiver on December 21 and has been mandated by the Court to conduct the sales process for the facility.
Grant Thorton has now opened for offers for the purchase of the former Rentech industrial wood pellet production facility and other related assets. Currently idle, the 400 000 tonne-per-annum design capacity plant, on a former OSB production site, launched operations in 2014 with additional upgrades made to the facility in 2015 and 2016.
Non-binding Letters of Intent (LoI) are due by February 23, 2018, with the view to allow interested parties to enter into discussions with the Receiver and perform further due diligence. Binding Agreements of Sale are due March 30, 2018, at 4:00 pm EST.
