Aggressive Moves from Northeast Wood Products
UNCASVILLE, CT — September 29, 2014 — Northeast Wood Products LLC (“NWP”), a subsidiary of the Mohegan Tribe of Connecticut, is continuing its rapid and sure-footed entry into the wood pellet production industry.
Building on its May 2014 acquisition and retrofit of Pennington’s pellet plant in Peebles, Ohio, as well the equipment and assets of a Pennington facility in Kenbridge, Virginia., NWP has now made three new and aggressive moves to consolidate its growing market share.
The first is the completion of its acquisition of the third Pennington pellet production plant in Ligonier, Indiana. Like the Peebles Plant, the Ligonier facility has an annual production of 65,000 tons of quality wood pellets. This acquisition and retrofit will result in the doubling of NWP’s annual production, bringing the total to 130,000 tons. The Ligonier plant, being a former Pennington asset, mirrors the equipment and design of the Peebles plant; meaning knowledge from the Peebles plant and its retrofit can be applied, thereby shortening the startup process.
Second, NWP has purchased the assets of Tennessee Hardwood Pellets of Kenton, TN. Established earlier this year, Tennessee Hardwood Pellets has pellet production equipment and assets that NWP will move to another soon-to-be announced facility in the coming weeks. These assets once installed will allow NWP to increase its production capacity from 130,000 to approximately 250,000 tons per year.
Finally, NWP’s third key move is perhaps its most important in recent weeks: the company is pleased to announce the addition of transportation and logistics specialist Gerry Amenta to its team of key industry players. Most recently the Vice President of Operations of Global Trade Associates and agent for Zim Integrated Shipping Services, Gerry will apply his extensive knowledge and experience in national and international shipping and logistics to NWP’s essential traffic, be it the undisrupted receipt of fiber or the timely and worry-free delivery of product worldwide.
“The assembly of this production and delivery capacity will place Northeast Wood Products among the industry leaders in North America,” said Guy Mozzicato, president of NWP. “It signals to industrial and heat pellet purchasers around the world that a new, strong and stable partner has entered the market”
In addition, these moves hew closely to the NWP Mission Statement, which is to promote the broad-scale use of wood fiber from sawmill waste and untreated residues from the wood processing industry into a high efficiency, low cost heating product, in both household and industrial markets.
“The Mohegan Tribe continues to search out solid and reliable business partners as it broadens its portfolio.” said Kevin Brown “Red Eagle,” Chairman of the Mohegan Tribal Council. “The latest developments for Northeast Wood Products LLP show the company’s commitment to moving the business forward in the fastest and wisest ways possible. Gerry Amenta’s international expertise will also be a great asset to us, and we welcome him to the Mohegan family. This is exciting news for everyone concerned. “
Michael D. Reid, SVP Business Development
Northeast Wood Products
13 Crow Hill Road
Uncasville, CT 06382