Germany’s EOP Biodiesel files for insolvency

14 December 2010 15:40  [Source: ICIS news]

TORONTO (ICIS)--Germany’s EOP Biodiesel has filed for insolvency after talks with banks on refinancing failed, it said on Tuesday.

A court in Neuruppin, near Berlin, had appointed Horst Piepenburg as insolvency administrator, the company said.

EOP Biodiesel, which is based in Pritzwalk-Falkenhagen, northwest of Berlin, and has a biodiesel capacity of about 130,000 tonnes/year, said it would seek to work with the insolvency administrator in order to maintain production and employment during the insolvency proceedings.

Despite the insolvency, EOP’s underlying operating performance had improved this year, it added.

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By: Stefan Baumgarten
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