Neste acquires animal fats trader IH Demeter
June 15, 2018
Renewable fuels producer Neste has acquired sole control and the majority of shares of Dutch animal fats and proteins trader IH Demeter BV in a move to improve its raw material supply.
According to a 25 May statement, Neste would acquire 51% of IH Demeter’s shares, making it the controlling shareholder while the current owners would remain co-owners.
Kaisa Hietala, Neste executive vice president of renewable products, called the acquisition an “important step” in Neste’s strategy to build a global waste and residue raw material platform to secure feedstock availability and competitiveness.
“With an efficient Europe-wide logistical setup, IH Demeter is well positioned to serve Neste in delivering future raw material volumes to our renewable product refineries,” Hietala said.
IH Demeter would be renamed to Neste Demeter BV as part of the sale, the monetary cost of which was not disclosed.
Founded in 1924, IH Demeter has 150 rendering facilities throughout Europe in its network, in addition to its own animal fat and protein storage facilities.