Neste to acquire the share majority of the Dutch animal fat trader IH Demeter B.V.
26 May 2018
Neste, a producer of renewable fuels from waste and residues, and IH Demeter B.V., a trader of animal fats and proteins, have agreed that Neste acquires sole control and 51% of the shares of IH Demeter B.V., making Neste the controlling shareholder. The current owners shall remain as co-owners. The transaction is awaiting for and is subject to regulatory approval.
This is an important step for Neste in our strategy of building a global waste and residue raw material platform to secure raw material availability and competitiveness. We are very happy that the owners of IH Demeter B.V. accepted our offer and trust us to develop the business further.
IH Demeter B.V. has a long history, and a solid track record of cooperating with Neste. With an efficient European-wide logistical setup, the company is well positioned to serve Neste in delivering future raw material volumes to our renewable product refineries.—Kaisa Hietala, Executive Vice President of Renewable Products business area of Neste
The sale and purchase agreement has been signed and parties have agreed that the purchase price will not be disclosed. The new company is planned to be called Neste Demeter B.V..
Founded in 1924, Demeter has become a large trader of animal fats and proteins. Currently, Demeter’s network covers some 150 rendering facilities throughout Europe, from which it acquires animal fats and proteins and transports them to their own storage facilities.
So if all the fats now go into sorta-renewable diesel fuel, what happens to the former customers of IH Demeter B.V.?
Posted by: Engineer-Poet | 27 May 2018 at 04:39 AM