Petrotec boosts sales by 29 percent

By Bryan Sims | August 08, 2008
Web exclusive posted August 25, 2008 at 5:18 p.m. CST

German biodiesel producer Petrotec AG posted net sales of 41 million ($61 million) for its first half of 2008 earnings report, up 29 percent from last year. The company's first half earnings include both first and second quarter reports.

Compared to the first quarter this year, the company saw increased sales in its second quarter due to high production output and selling efforts, coupled with positive sales price development that were up 60.8 percent to 25.3 million ($37.4 million).

Petrotec is one of the pioneers in the German biodiesel industry. The company first developed a process to produce biodiesel in 1998 from used frying and deep-frying cooking oil. Petrotec's first biodiesel plant-an 85,000-ton (34 MMgy) facility in Borken, Germany-came on line in 2000. This year, its second facility-a 100,000-ton (30 MMgy) facility in the deep-sea port near Emden, Germany-is credited with further bolstering the company's net biodiesel sales this year. Both plants use waste vegetable oils and grease as feedstocks. With the opening of the Emden facility, Petrotec now has a combined capacity of approximately 55 MMgy.

With the two facilities, Petrotec said it's aptly positioned to serve the blending markets since both plants are located port-side, enabling the company to access both oceangoing and inland vessels to export products to countries such as Great Britain, Belgium, the Netherlands, Luxembourg, and Scandinavia.

Additionally, Petrotec said that its collection of used cooking oil feedstock expanded by 52.6 percent. The company's Vital Fettrecycling subsidiary now handles disposal of used frying fats for over 16,000 hospitality outlets and food producers in Europe. Petrotec has achieved this growth both vertically through its own distribution chain and alliances, as well as by mergers and acquisitions, the company said.
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