BIOX Corporation (BX.TO), a renewable energy company that designs, builds, owns and operates biodiesel production facilities and is trading at year low levels, announced it has temporarily suspended production of biodiesel at its Hamilton facility based on the existing conditions within the U.S. biodiesel market.
The company said it will monitor biodiesel market conditions, including biodiesel production volumes as well as trading liquidity and pricing, to determine the appropriate time to resume production. Concurrent with the suspension of biodiesel production, BIOX has reduced its operations group by 17 positions on a temporary basis. During the temporary suspension of biodiesel production, BIOX will continue to operate the recently commissioned stand-alone glycerin refinement system to upgrade crude glycerin in inventory to technical grade glycerin
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
