12 July 2007 17:13 [Source: ICIS news]
Chief financial officer Christopher Clinning confirmed the plans but declined to disclose details, citing a legal “quiet period” prior to the IPO.
In a regulatory filing, Biox said it was planning biodiesel projects in ?xml:namespace>
The plants would be located in
The projects would employ an innovative continuous production process that allowed the use of lower-cost feedstocks than conventional batch production processes, Biox said.
The company has an existing 67m litre/year facility in
Biodiesel use in North America would show strong growth in coming years due to government-imposed renewable fuel standards, Biox said, pointing to
But Biox, in pointing out some of the IPOs risks, also said that excess supply in North America was a possibility.
As of June 2007, the US alone had 148 operating biodiesel plants with 5.3bn litres/year of capacity, the company said, citing the latest industry data. There were 101 projects under construction or expansion, adding another 7.2bn litres/year of capacity, Biox said.
According to Canadian analysts, Biox’s IPO could yield up to Canadian dollars (C$) 150m ($143m).
($1 = C$1.05)
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