UK biofuel plant Ensus to reopen in autumn -owner CropEnergies
HAMBURG, July 30
HAMBURG, July 30 (Reuters) - Production should resume at British biofuel producer Ensus in the autumn, CropEnergies , its new German owner, said on Tuesday.
CropEnergies announced the purchase of Ensus on July 19. Ensus had closed its plant in Yarm in northeast England in April due to adverse market conditions.
Ensus operates one of Europe's largest bio-refineries with an annual production capacity of about 400 million to 450 million litres of bioethanol and about 1 million tonnes of feed wheat. The plant can also produce up to 350,000 tonnes of animal feed.
"The production plant in northeast England should be put into operation in autumn 2013," CropEnergies said.
Ensus started operating the plant in February 2010 but then shut it for 15 months from May 2011 until August 2012, also due to a poor market. CropEnergies has said it will invest more than 50 million pounds to improve the plant's competitiveness.
The Germany company said on Tuesday the takeover would cut its expected operating profit in the 2013/14 financial year to between 40 million and 50 million euros from its earlier expectation of 50 million to 60 million.
But Ensus is expected to make a positive contribution to CropEnergies' earnings in two years, it said.
"The acquisition of Ensus in Britain is a unique opportunity to rapidly improve our position against our competitors," CropEnergies Chief Operating Officer Marten Keil said.
- Alabama man gets $1,000 in police settlement, his lawyers get $459,000
- Doctor who worked in Africa first Ebola case in New York City |
- Exclusive: Charred tanks in Ukraine point to Russian involvement
- Ground offensive against Islamic State months away in Iraq: U.S.
- U.S. stock futures tumble on reports of NY Ebola case