Sweden/Norway: Biodiesel Production Perstorp to Sell Bio Products Business
Perstorp announced the sale of Bio Products, a producer of biodiesel and glycerine in Scandinavia, to a Swedish investor together with a member of the subsidiary’s management team. The terms of the transaction were not disclosed.
Malmö/Sweden — The sale includes the production site in Fredrikstad, Norway, while the production site in Stenungsund, Sweden, will remain under the company’s ownership. The chemicals company will also, for a limited time, be a minority owner of the new company i.e. Adesso Bio Products AB. The 20 staff employed at Bio Products, mostly in Fredrikstad, have been offered to continue their employment with the new company.
A tolling agreement forms a part of the sale, whereby the speciality chemicals company will continue to produce biodiesel at Stenungsund production site for Adesso Bio Products. In the long term, Adesso might relocate production and the previous owner may look to repurpose this site for other specialty chemical products.
According to Jan Secher, President and CEO of Perstorp, Adesso Bio Products is one of the leading suppliers of biofuels in Scandinavia and he sees great potential for the business under its new ownership. For Perstorp, the sale was in line with the strategy to focus on high growth areas in the specialty chemicals market. With the rapidly increasing focus on the decarbonization of the transportation sector, demand for biofuels and bio-based fuel components will see continued strong growth. This provided the company with a great potential to expand, said Lars Lind, CEO of Adesso Bio Products AB. Aside from the development of the existing biofuel portfolio, he sees an interesting opportunity in biocomponents suitable for advanced biofuels, carbon free aviation and bio-based chemicals.