17 April 2015 (15:57 UTC-07 Tango 01)/27 Farvardin 1394/28 Jumada t-Tania 1436/29 Geng Chen 4713

“We did a worldwide marketing effort to sell the plant. We obviously wanted to find a user.  It’s a damn shame!”-Mark Fleischauer,  JH Kelly senior vice president, Idaho State Journal interview

After a little more than a year, the winning bidder for the failed Hoku Polysilicon Materials factory has given up trying to find an operator, and is now chopping up and selling off the factory bit by bit.

JH Kelly is the contractor hired by Hoku to build the factory in Pocatello, Idaho.  Hawaii based Hoku failed to pay JH Kelly about $25-million USD for the work, and then JH Kelly spent their own $8.3-million buying the failed factory (which was valued at $700-million).

The entire Hoku Materials story is an example of optimistic thinking run wild, involving local and state administrators basically giving away the land for the factory, to company administrators failing to understand the polysilicon market and becoming financially dependent on Chinese sources of money, which was finally ended when the president of the United States imposed heavy tariffs on products tied to Chinese solar power companies.

Read More about the Hoku Materials saga, beginning with: Unpaid contractor is winning bidder for abandoned Hoku….again!