Huntway Partners May Convert to Corporation
Huntway Partners L.P. said it plans a special meeting in hopes of converting from a partnership to a corporation. To make the change, two-thirds of Huntway’s limited partners would have to vote in favor of it.
Huntway’s chief financial officer, Warren Nelson, said Huntway wants to make the conversion to attract more public and institutional investors, who might avoid investing in a limited partnership because of tax complications.
Huntway is based in Newhall and operates refineries in Wilmington and Bencia, Calif., that produce liquid asphalt for road construction. Huntway said it hopes the conversion will be completed by March 31.
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