Drax Group has begun construction on the second of three satellite pellet plants in Arkansas. Located in Russellville, Pope County, the new facility is part of a $40 million project and is expected to be operational in 2022.
Drax Group announced plans to acquire a 20 percent minority interest in Alabama Pellets LLC for $29.7 million cash consideration in a deal with The Westervelt Co. The deal is expected to be finalized by the end of July and will increase Drax's interest in Alabama Pellets to 90 percent.
Wood pellet producer Drax Biomass has acquired Louisiana Pellets with a winning auction bid of $35.4 million. The auction for the bankrupt Louisiana pellet manufacturer culminated on March 30.