Nov 6, 2009 (22 hours ago)
Today it was announced that my new company, Merica International, has acquired Shell's stake in Choren Industries . This is something we have been actively pursuing for some time. This transaction gives Merica controlling interest, which gives us a great deal more flexibility than we had previously. The primary reason for the acquisition is that it gives us freedom to pursue the projects we want to pursue. While I have the greatest respect for Shell, our interests did not always align with theirs. We are first and foremost a bioenergy company, and that is not their core business. Further, if Choren wanted to make any major capital expenditures, it hinged on getting Shell's agreement. As Shell is in a major cost-cutting mode, a lot of the projects we want to pursue could have been potentially impacted. Shell Fischer-Tropsch technology will still be used in Choren's Freiberg BTL facility, but future decision-making will be simplified. Here are excerpts of the story from Reuters: Shell sells stake in German biofuel firm Choren HAMBURG, Nov 5 (Reuters) - Oil major Royal Dutch Shell has sold its shareholding in German second-generation biofuels company Choren, Choren said on Thursday. C..
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