Last update: 09.07.2011
Biopetrol to close German biodiesel plant
Source : reuters.com
Swiss-German biodiesel producer Biopetrol Industries AG said on Tuesday it will close its biodiesel plant in Schwarzheide in central Germany because of continued overcapacity and low earnings. The 150'000 tonne annual capacity plant will close in June, said Biopetrol, which is controlled by Swiss commodity group Glencore. The decision was made "amid continuing overcapacity in the European biodiesel market which led to pressure on margins and low utilization rates across the industry", Biopetrol said. Europe's biodiesel industry is estimated to be working at around half its capacity. The Schwarzheide plant, inland far from export ports, could only feasibly supply companies in the over-supplied local market, a statement said. The company also operates a 200'000 tonne biodiesel plant in the east German port of Rostock and a 650'000 tonne plant in the Dutch port of Rotterdam.
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30 March 2011 |
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