13 November 2012
Agri-business sale completed
Solid Energy has completed the sale of the agribusiness division of Biodiesel New Zealand Ltd. The purchaser, Pure Oil
New Zealand Ltd, is owned by Southern Packers, Midlands Seed, and a manager and agronomist who previously worked for
Biodiesel New Zealand.
Solid Energy said in August that as part of its response to the impact on its business of the extremely challenging
global coal market, the company would sell its biodiesel business which operates in two parts – one manufacturing and
marketing biofuel and the agri-business division which contracts with farmers to grow oilseed rape, processes the seed
at an oil extraction plant at Rolleston and sells the oil into the food industry and meal as animal feed. In early
October Solid Energy announced the consortium led by Southern Packers was the preferred bidder.
Solid Energy is pleased that Pure Oil New Zealand plans to develop the existing agri-business, including the amount of
oilseed rape crop it contracts.
Solid Energy is now in negotiations with potential purchasers of the fuel division of Biodiesel New Zealand and expects
to complete a sale by the end of the year.