Making it Work

Construction company purchases plant it helped build
By Holly Jessen | March 10, 2011

When a 108 MMgy ethanol plant in Clatskanie, Ore., went bankrupt after only operating six months, one creditor was JH Kelly Holdings LLC, a contractor that had been hired to build the plant. Today the company owns the plant and is working to restart it. “We fully anticipate that the plant will be ready to start by late spring or early summer,” said Mark Fisler, partner and managing director of Ocean Park Advisors, retained to develop strategic alternatives for the facility.

The new company, Cascade Kelly Holdings LLC, is a subsidiary of JH Kelly Holdings LLC. Fisher confirmed that the company would like to sell the plant at some point but added that isn’t the immediate concern. “Their primary goal today is to do the minor repairs and start the plant up and operate it.” 

—Holly Jessen