Pocatello Hoku plant faces foreclosure before even starting production

Pocatello Hoku plant faces foreclosure before even starting production

by
Mitch Coffman
May 23, 2012
Mitch Coffman
May 23, 2012

Hoku Materials in Pocatello is in a lot of financial trouble. Foreclosure proceedings have started for the $700 million manufacturing plant, before any actual manufacturing has been done.

According to the Idaho Statesman, Hoku was planning to have the plant up and running and employing around 200 workers. But the market, manufacturing polysilicon for solar panels, took a dive and left Hoku with little or no business.

Hoku has nearly $280 million in liabilities, with just $7.7 million in cash and $6.7 million in other assets.

Idaho Freedom Foundation
802 W. Bannock Street, Suite 405, Boise, Idaho 83702
p 208.258.2280 | e [email protected]
COPYRIGHT © 2021 Idaho freedom Foundation
magnifiercrossmenucross-circle
>
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram