It's Over, For Now, For Limetree Bay Refining
Christiansted, St Croix -- Come September 19, Limetree Bay will let go its remaining employees, idle the refinery and proceed with its bankruptcy filing. The company is also hopeful that an investor will be interested in purchasing the refinery, but even if that were to happen, the process to restart would most likely take years.
That's according to Limetree Bay Refining CEO Jeffrey Rinker, who spoke during a press conference Limetree Bay held Tuesday, the first of its kind. Speaking briefly then taking questions from the media, Mr. Rinker was forthcoming, and he apologized for the two incidents at the Coker unit and the refinery following its restart in February, which ultimately led to the shutdown in May.
The CEO told the Consortium that Limetree Bay has been in discussions with the Environmental Protection Agency about removing oil currently in the units as it looks to completely shutdown the facility. He said he was hopeful that an agreement will be reached in the coming weeks.
The refinery's shutdown is already affecting livelihoods and local businesses, as employees once earning middle class income have been let go, and businesses take a hit as laid off employees pull back on spending.
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