Specialty chemicals company Perstorp announces the sale of Perstorp BioProducts, 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.
The sale reportedly includes the production site in Fredrikstad, Norway. A production site in Stenungsund, Sweden will remain under Perstorp’s ownership. Perstorp will also, for a limited time, be a minority owner of the new company, Adesso BioProducts AB. The 20 employees of Perstorp BioProducts, mostly in Fredrikstad, can continue their employment with Adesso BioProducts AB.
A tolling agreement forms a part of the sale, whereby Perstorp will continue to produce biodiesel at Stenungsund production site for Adesso BioProducts. In the long term, Adesso may relocate production and Perstorp may look to repurpose this site for other specialty chemical products, according to the company.
“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 and provide us with a great potential to expand,” says Lars Lind, CEO of Adesso BioProducts AB. “Aside from the development of the existing biofuel portfolio, we see an interesting opportunity in biocomponents suitable for advanced biofuels, carbon free aviation and bio-based chemicals.”
For more information, visit: www.perstorp.com