Companies in the timber industry / Daily News / Global Trends / Wood pellets / Wood Products / Global / North America
July 25, 2018
Astec Industries to limit wood pellets business due to financial improfitability
Nearly a decade after entering the business of developing new wood pellet production machines, Astec Industries, Inc. said today it is giving up on its plans to engineer and develop a wood pellet plant in Arkansas and limiting its participation developing other new pellet plants. The Chattanooga-based heavy equipment manufacturer reported today better-than-expected profits from its core business, but Astec reported a net loss of $40.7 million in the second quarter because of losses in its wood pellet operations. Astec said it has agreed to pay $68 million ...
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