Dreyfus acquires big biodiesel plant in Germany

14 May 2009 18:00  [Source: ICIS news]

TORONTO (ICIS news)--International commodities trader Louis Dreyfus has acquired a 200,000 tonne/year refinery for biodiesel and pharmaglycerin in Wittenberg, in Germany’s eastern state of Saxony-Anhalt, the state’s economics ministry said on Thursday.

Economics minister Reiner Haseloff said the acquisition by the Paris-based Dreyfus, which also included an oil mill, would strengthen the biodiesel production site in Wittenberg. The biodiesel plant was one of the largest of its kind in the world, he said.

The facilities, which were currently running at full capacity, may now be expanded, Haselhoff said.

Nigel Mamalis, Dreyfus board member for Europe and the Black Sea region, said Wittenberg would be a platform for his company’s oil seeds business in Europe.

The previous owner was Switzerland's Gate Global Alternative Energy, which Dreyfus acquired, the ministry said. Financial terms were not disclosed.

The biodiesel plant was completed in 2007. According to a German press report, it cost €85m ($115m).

($1 = €0.74)

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