Neste to acquire the share majority of the Dutch animal fat trader IH Demeter B.V.
Neste Corporation, Press Release, 25 May 2018 at 9 am (EET)
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,” says Kaisa Hietala, Executive Vice President of Renewable Products business area of Neste.
“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,” continues Hietala.
“We are proud of our raw material sourcing know-how and our capability of managing logistics of animal fats and proteins. The company has a long and successful history in operating as a family owned business. Now, we are happy to join Neste to further build up our business and secure future growth,” says Floris Ebeli of IH Demeter B.V.
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..
Director, Corporate Communications
Kaisa Hietala, Executive Vice President, Renewable Products business area, Neste, tel. +358 10 458 4128
Floris Ebeli, Owner, IH Demeter B.V., tel. +31 6 53115202
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates sustainable solutions for transport, business, and consumer needs. Our wide range of renewable products enable our customers to reduce climate emissions. We are the world's largest producer of renewable diesel refined from waste and residues, introducing renewable solutions also to the aviation and plastics industries. We are also a technologically advanced refiner of high-quality oil products. We want to be a reliable partner with widely valued expertise, research, and sustainable operations. In 2017, Neste's revenue stood at EUR 13.2 billion. In 2018, Neste placed 2nd on the Global 100 list of the most sustainable companies in the world. Read more: neste.com
IH Demeter B.V. in brief
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. Read more: http://demeter.nl/