Interest in Henderson plant sold

Wednesday, Jan. 5, 2000 | 11:04 a.m.

A Houston company has sold its interest in an electricity generation plant in Henderson.

Pioneer Companies Inc. said it sold its minority interest for $12 million to Boulder Power LLC, a Nevada company.

Pioneer, which manufactures chemical products, said the plant was not needed for its business, and that the company did not use power from the plant in its operations. However, Pioneer said it will continue to supply water and hydrogen to the plant and will purchase steam from it.

Pioneer said it intends to reinvest the proceeds into its chemical manufacturing business.

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