SANTA FE SPRINGS : Refinery Emerges From Bankruptcy Protection
An oil refinery has emerged from bankruptcy protection three years after officials closed the facility, citing a poor economy and the high cost of meeting state environmental regulations.
Golden West Refining Co. filed papers in federal court earlier this month outlining a repayment plan for creditors, said Roger Kemple, a senior vice president.
In February, 1992, the company laid off about 225 of its 280 workers after it filed for bankruptcy protection. The refinery was processing about 46,000 barrels a day of crude oil when it closed, Kemple said.
Since then, the 265-acre facility at Carmenita and Foster roads has been used primarily as a storage and distribution yard for gasoline, crude oil, asphalt and other petroleum products.
Kemple said the company is studying the costs of reopening the facility, but may not come to a decision for several months.
Golden West was ranked among the largest producers of air pollutants in Los Angeles County in the early 1990s, according to records compiled by the South Coast Air Quality Management District.
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