Client News Release
New Generation Biofuels Announces Relocated Pilot Facility and Issues Corporate Update (PR Newswire) and Chemtura Appoints Anderson as Vice President and Treasurer (Business Wire)
City of Industry, CA --(www.FinancialNewsUSA.com)-- 11/19/2008 - Specialty Chemicals industry news provided by Financial News USA (OTC: FNWU). LAKE MARY, Fla., Nov. 17 /PRNewswire-FirstCall/ -- New Generation Biofuels Holdings Inc. (Nasdaq: NGBF) announced today that it is moving its existing biofuel pilot facility from Cincinnati, Ohio to Baltimore, Maryland, the site of the Company's recently announced lease for a commercial scale production facility. The Company also issued a business update.
Pilot Plant RelocationThe pilot facility, which can be scaled up at full capacity to produce up to 8 MM gallons annually of advanced, second generation biofuel is expected to be back in service by year end and will be used primarily to support the Company's early sales commitments.Company VP of Engineering and Operations, Phil Cherry said, "Moving the pilot plant to Baltimore allows us to consolidate our operations in one location, efficiently merging our R&D activities and our early commercial efforts. [Read the full article]
MIDDLEBURY, Conn.--(BUSINESS WIRE)--Chemtura Corporation (NYSE: CEM) has announced the appointment of Carol Anderson to the position of vice president and treasurer, effectively immediately. Anderson served as assistant treasurer since 2004 and assumes the treasurer role from Stephen Forsyth, executive vice president and chief financial officer. "As assistant treasurer, Carol Anderson has done an outstanding job in leading the company's initiatives to improve cash management, standardize cash collections and disbursements, rationalize bank
accounts, and adopt enhanced cash pooling and netting processes,"Forsyth said. "These high-priority actions are critical in making better use of Chemtura's cash flow and reducing outstanding debt. We look forward to continued progress in those areas." Anderson joined Chemtura in December 2000 as director of international
treasury operations. [Read the full article]
SACRAMENTO, Calif., Nov. 17 /PRNewswire-FirstCall/ -- Pacific Ethanol,
Inc. (Nasdaq: PEIX), the leading West Coast-based marketer and producer of ethanol, today announced an adjustment to its previously reported financial results for the quarter ended September 30, 2008. The Company previously reported a non-cash asset impairment charge of $26.6 million related to its suspended Imperial Valley ethanol plant construction project, which represented $43.8 million in property and equipment less $17.2 million in construction-related liabilities. The Company increased its impairment charge by $14.3 million to a total of $40.9 million.
The increase represents impairment on the gross amount of $43.8 million in
property and equipment less estimated future undiscounted cash flows. [Read the full article]
OMAHA, NE--(MARKET WIRE)--Nov 17, 2008 -- Green Plains Renewable Energy, Inc. [Read the full article]
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