Apical Group, one of the world's largest palm oil exporters, made a strategic acquisition of Spain-based Bio-Oils on July 5, 2016. Apical Group now holds 67.7% stake, which is valued at USD 49 million.
This marks a major milestone for Apical Group as it seeks to be an important participant in the growing biofuel production market in Southern Europe.
La Rabida, Apical Group's new plant in Southwest Spain, provides Apical with a logistical advantage. Its strategic location increases freight savings. It also has access to one of the most technologically advanced loading/offloading ports in the Mediterranean region. It refines around 250,000 tonnes of biodiesel annually. This boosts Apical Group’s annual global biodiesel output by almost 60% to over 680,000 tonnes. La Rabida is expected to refine 450,000 tonnes by 2018.
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