Lantmännen Agroenergi sells Renewable Fuels Ltd

Lantmännen Agroenergi AB has reached an agreement to sell its former UK subsidiary Renewable Fuels Ltd. to the specialist bio energy company Coppice Resources Ltd. The sale is another step in Lantmännen Group's strategy to become leaner and more focused. The transfer is effective from 1 December 2010.

Under this agreement Coppice Resources Ltd (CRL), has acquired the company and its short rotation coppice (willow) contracts and will transfer the activities to their operating offices at Retford in Nottinghamshire. CRL was established in 1999 and since then has invested in SRC crops, technology and contracting and has a wide base of growers and industrial users. Commenting on this acquisition Mark Paulson, Managing Director of CRL and Renewable Fuels Ltd says; “In order to sustain growth in such a fledgling market it is essential to achieve a critical mass and this acquisition provides a secure base for our company to further expand and develop the market of SRC and bio energy crops in general. We view this as a long term investment that is very much in line with our development strategy.

”After careful consideration, we concluded that Coppice Resources Ltd. are in the best position to take over the management of Renewable Fuels Ltd”, says Per Strömberg, Lantmännen’s Group President and CEO, and Acting Sector Manager for Lantmännen Energi. “Whist we have withdrawn from direct UK presence in this market we look forward to strengthening our relationship with CRL through the testing evaluation and commercialization of new willow varieties from our company’s long established willow programme based in Svalöf Sweden“.

About Lantmännen  

Lantmännen is one of the largest groups in the food, energy, machinery and agriculture industries in the Nordic region. Lantmännen's brands include Axa, GoGreen, Gooh, Hatting, Kronfågel and Kungsörnen. Lantmännen is owned by more than 37,000 Swedish farmers. It has more than 10,000 employees, operates in 18 countries and has a turnover of SEK 35 billion. Lantmännen operates throughout the entire food processing chain – from field to fork. For more information visit www.lantmannen.com

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