Rentech cease R&D activities

Rentech to cease R&D activities

5:07 AM, 1st March 2013
Rentech to cease R&D activities

LOS ANGELES, US: Rentech Inc plans to cease operations at, reduce staffing at, and mothball its research and development (R&D) Product Demonstration Unit (PDU), in Commerce City, CO, and to eliminate all related R&D activities. The Company’s strategy is focused on more immediate growth opportunities within the energy industry that do not rely on new technologies.

“We are grateful to our employees for their dedication and tremendous effort to successfully develop innovative and workable technologies for alternative energy production. While our elimination of these positions is a difficult decision, today’s actions will further position Rentech to drive value for shareholders by cutting R&D spending and focusing on businesses that generate strong returns, with ready markets, and certainty of revenue,” said D Hunt Ramsbottom, President and CEO, Rentech.

“The investments we are considering have either immediate or near-term profitability, and will meet our disciplined investment criteria. Our success in growing Rentech Nitrogen and generating attractive returns from that business is the best example to date of the disciplined investment approach that we will follow as we consider additional investments,” added Ramsbottom.

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