EOP Biodiesel to sell Latvia operations

16 December 2008 14:24  [Source: ICIS news]

TORONTO (ICIS news)--EOP Biodiesel plans to sell its holding company in Latvia, including a 10,000 tonnes/year oil mill, the Germany-based renewable fuels producer said on Tuesday.

Latvia’s government had withdrawn its previously promised subsidies for the biodiesel production, EOP said.

Also, the oil mill was too small for EOP’s expanding business, it said.

In related news, the company reported a fiscal first quarter net profit of €280,000 ($384,000), compared with a €1.5m loss a year earlier, on a 65% increase in revenues to €41.7m.

($1 = €0.73)

Bookmark Simon Robinson’s Big Biofuels Blog for some independent thinking on biofuels


By: Stefan Baumgarten
+1 713 525 2653



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly