SAO PAULO, April 11 /PRNewswire-FirstCall/ -- Agrenco Ltd. (Bovespa: AGEN11), one of the largest provider of integrated and customized solutions for agribusiness, with global operations, hereby announces to its shareholders and investors that, on April 10, 2008, the National Petroleum Agency (ANP) held an auction for the acquisition of 264,000 m3 of biodiesel, for delivery between July 1 and September 30, 2008. The purpose of the auction was to ensure supply of the necessary volumes for the mandatory blend of 3% of biodiesel in all mineral diesel oil consumed in Brazil, which will be in force as from July 1, 2008.
Agrenco Bioenergia sold a total of 39,600 m3 of ANP-standard biodiesel, which represents 15% of the auction total volume, at the average price of R$ 2,465.0/m3 -- price does not include ICMS (value-added tax on services and goods). All biodiesel will be produced in the newly opened Alto Araguaia Industrial Complex (Mato Grosso state) with deliveries scheduled between July 1 and September 30, 2008. The acquiring federal body will be responsible for take up of deliveries of the biodiesel at the Alto Araguaia Industrial Complex. Total revenues from the biofuel sale will amount to approximately R$ 98 million.
This sale represents the entrance of the Agrenco Group into the
Brazilian biodiesel market, the Company's milestone towards consolidating
its brand in the bioenergy sector, and the first major supply from the Alto
Araguaia Industrial Complex. The purchase and sale agreement will be
entered into within 10 days as of the publication by ANP in the "Diario
For further information contact Agrenco's Investor Relations Team:
Marco Antonio de Modesti
Phone.: +55 (11) 3572-0137
|SOURCE Agrenco Ltd.|
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