Czech Agrofert seeks biofuels boost from merger

27 October 2008 13:28  [Source: ICIS news]

PRAGUE (ICIS news)--Czech agrochemicals company Agrofert hopes to build up its biofuel operations through a proposed merger with a subsidiary of Czech agricultural commodities holding Agropol Group, it said on Monday.

Agrofert said the combined companies would create one of the largest agrochemical, fertiliser, agricultural commodity and biofuels businesses in Central Europe.

Agrofert said it was awaiting a decision by the Czech Office for the Protection of Competition (UOHS) on its proposed fusion with Agropol’s Primagra, a biodiesel component producer.

UOHS chairman Martin Pecina said he could not see any fundamental obstacles to an Agrofert-Agropol merger.

In a statement on the Agrofert bid, Agropol owner Jiri Malus said Agrofert was one of three strategic partners under consideration, with a decision on the preferred partner due on 17 November.

Primagra's biofuel operations so far centre on its koruna (Kc) 100m (€4.05m/$5.09m) rapeseed oil methyl ester (ROME) plant in Milin, Czech Republic, which is building toward 70,000 tonnes/year of output.

Agrofert’s subsidiary Preol is creating a biodiesel production unit and rapeseed processing centre at Lovosice in the Czech Republic. The facility aims to process 400,000 tonnes/year of ROME.

($1 = Kc19.65/€1 = 24.69)

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By: Will Conroy
+44 20 8652 3214

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