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Sellers push forward bankruptcy sale of German Pellets US facilities

EC finds that increased demand for wood pellets could be “fulfilled by the market without undue negative side-effects”.

Rail and storage facility at the Port of Immingham

In a statement Drax Group said that it has been notified that the sellers of the two German Pellet plants in the US, Texas Pellets and Louisiana Pellets are currently going through “Chapter 11” bankruptcy processes, 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.

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 and has confirmed that it remains “an interested party” in the acquisition of these assets.

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