Biopetrol to shutter German plant, blames EU ethanol overcapacity
In Switzerland, Biopetrol Industries reported that the company has suffered a net loss of KEUR 73,009 for 2010 amid continuing overcapacity in the European biodiesel market. As a result, Biopetrol has informed the Works Council at its plant in Schwarzheide, eastern Germany, that the company intends to end production at that plant in June.
The ending of production will unfortunately result in the loss of 31 production positions at the plant. The Board has been able to save administrative positions at Schwarzheide by giving these personnel Group-wide duties. Biopetrol further commented that due to its location far from the sea, the Schwarzheide plant lacks the transport links to seek new potential customers beyond its own oversupplied region. The Board concluded that there is no prospect of improvement in the foreseeable future.
Category: Fuels
