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Nevada company offers to buy HOKU plant

Published On: Aug 02 2013 09:56:55 AM CDT
New Pocatello Silica

JCF Funding


A Henderson, Nevada based company has submitted a verbal offer to purchase the abandoned HOKU plant in Pocatello.

JCF Funding, LLC made the offer to a Chapter 7 Bankruptcy Court July 24. 

The company announced Thursday it will open a Pocatello office in an effort to prevent liquidation of the HOKU polysilicon plant.  Former plant manager Ed Church and seven other employees are working with JFC.  It would be called "The New-Pocatello Silica Company."

The company said it has been working AHSCO Trust and Arco Hills Silica Company on a plan that would, if approved by the bankruptcy court, employ up to 200 people in the greater Pocatello area later this year.  Eventually,the company said it would create an additional 1,500 new job opportunities over the next two to three years.

According to JCF's website, the new Pocatello office would help generate sales of $367.8 million with Arco Hills in the first 18 to 24 months of operation.