E-Pellets acquires mill for wood pellet production
ATLANTA — E-Pellets, LLC has acquired the formerly shuttered Louisiana Pacific OSB mill in Athens and plans to convert the mill into a wood pellet production facility, producing about 450,000 metric tons annually.
The wood pellets will be exported to the European Union to be used as an alternative to coal as fuel in power plants.
E-Pellets has a long-term agreement with Georgia Kaolin Terminal, Inc. at the Port of Savannah that provides E-Pellets enough capacity to export up to 1.35 million metric tons of wood pellets per year.
E-Pellets, which is headquartered in Waycross, previously bought a production facility in Nahunta and is expanding the production volume there.
All of the wood pellets are contracted to be sent to European power producers.
Colony Bankcorp announces second-quarter results
Colony Bankcorp, Inc. (Nasdaq:CBAN), reports net income of $1.335 million – $0.16 per diluted share – for the second quarter of 2014 compared to $611,000 – $0.07 per diluted share – for the same quarter of 2013.
Net income for the six months that ended June 30 was $2.149 million – 0.25 per diluted share – compared to $1.178 million – $0.14 per share – for the same period in 2013.
The increase in net income was primarily driven by a reduction in provision for loan losses, an increase in net interest income and an increase in noninterest income.
“While the financial results reflect marked improvement, also noteworthy was the significant reduction in our non-performing assets to $31.59 million at June 30, 2014. This reflects a 19.35 percent reduction from the previous quarter end and marks the lowest level of non-performing assets since 2008,” said Ed Loomis, president and chief executive officer.
Colony Bankcorp, Inc. is headquartered in Fitzgerald, with one operating subsidiary, Colony Bank.
Breakfast and learn scheduled for small businesses
The Small Business Assistance Corp. will host “business and biscuits” for local lenders Tuesday to provide an opportunity to network and learn more about resources available to local small business lenders and entrepreneurs.
Presenters will include Kyle Hensel, area director of the UGA Small Business Development Center; Gary Johnson, local chapter president of SCORE; Todd Gerken, director, U.S. Commercial Service; Wendy Jeffers, senior lending officer, SBAC; and Stephen George, vice president, SBAC.
The session will be held from 9 to 10 a.m. at the Small Business Resource Center, 111 E. Liberty St.
For more information, call 912-232-4700 or email lmikell@sbacsav.com.