Huntway Partners’ Loss Grows to $8.95 Million
Huntway Partners L.P. posted a much wider loss in its fourth quarter and for the full year as it wrote off the cost of a shuttered refinery in Arizona.
The Newhall-based asphalt maker posted a loss of $8.95 million in the fourth quarter that ended Dec. 31, compared to a loss of $1.18 million in the same period a year earlier. Revenues for the quarter rose to $22.4 million, up from $19.1 million a year ago.
In the latest quarter the company suffered a $9.5 million write-down for its Sunbelt Refinery in Arizona.
For all of 1995, Huntway’s loss widened to $14.5 million, compared to a loss of $3 million in 1994. Revenues last year climbed to $83.1 million, up from $79.1 million a year earlier.
Huntway has refineries in Wilmington and Benicia, Calif., which process crude oil for liquid asphalt used in road construction.
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