22 August 2011 17:40 [Source: ICIS news]
LONDON (ICIS)--US-based Archer Daniels Midland Company's (ADM) acquisition of Polish biodiesel producer Elstar Oils is a welcome development, the Polish National Chamber of Biofuels said on Monday.
The impetus provided by the Illinois-based global player's move could prove a shot in the arm for the biofuels industry in Poland, which in recent years has been frustrated by the government's failure to smoothly put in place a regulatory environment to enable its steady growth, the chamber added.
Only 41 firms are now operating in the industry, compared with about 80 that were recorded back in 2007, the chamber said.
Elstar Oils includes the Biopaliwa subsidiary that operates rapeseed crushing and refining facilities in Czernin, in the rapeseed growing region of Pomerania in northern Poland, and a fully-automated biodiesel facility in nearby Malbork. It is also a producer of vegetable fats.
It has the capacity to crush 400,000 tonnes/year of rapeseed.
Worldwide, ADM employs 30,000 people at 265 processing plants that turn crops into renewable products for food, animal feed, chemical and energy uses.
Anti-trust authorities must approve the acquisition of Elstar Oils, the price of which was not disclosed.
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