Acquisition
August 18 2010 - 2:00AM
UK Regulatory
TIDMAMBR
RNS Number : 2324R
Ambrian Capital PLC
18 August 2010
Ambrian Acquires Physical Bio-Fuels Business
LONDON, 18 August 2010 - Ambrian Capital plc ("Ambrian") (AIM: AMBR) announced
today that it has acquired the physical bio-fuels business of the Masefield
Group ("Masefield Bio-Fuels"), strengthening its physical commodities trading
capability.
Masefield Bio-Fuels was established in 2006 and will now trade as Ambrian Energy
GmbH. The business supplies a European client base with bio-diesel and other
renewable fuels. It will be headed by Bernd Sturmheit who has over 25 years'
experience in the European energy market. Prior to joining Masefield in 2005,
Bernd worked with Vattenfall and E.ON. A team of 6 traders and logistics
managers based in Hamburg and a representative office in Singapore will report
to Bernd.
Ambrian Capital intends to inject US$5 million of new capital into Ambrian
Energy GmbH for working capital purposes.
The major focus of the business is on Palm Methyl Ester ("PME"), which is
produced from palm oil, and it also trades Rapeseed Methyl Ester ("RME"),
Soybean Methyl Ester ("SME") and blends thereof. The business will lease 12,200
cubic metres of bio-diesel storage tank capacity in Ghent, Belgium which enable
it to supply bio-diesel to meet customer specifications. In 2009, Masefield
Bio-Fuels supplied over 100,000 metric tonnes of bio-diesel to European
customers with a total value of approximately US$100 million.
One of the particular attractions of Masefield Bio-Fuels to Ambrian is that the
business attaches great importance to ecological concerns and sustainability
requirements. It is a member of the Roundtable on Sustainable Palm Oil
("RSPO"), an organisation that promotes the growth and use of sustainable palm
oil through credible global standards and engagement of stakeholders.
"The acquisition of Masefield's bio-fuels business is an important step in
Ambrian's strategy to become a leading global supplier of physical commodities,
strengthening both our established commodities trading business and our natural
resources franchise. We intend to replicate the success we have had supplying
non-ferrous metals by entering selected niche products in the energy sector.
Bio-fuels are a particularly attractive product area given their growth
potential as an alternative to fossil fuel", said Tom Gaffney, Chief Executive
of Ambrian Capital plc.
"The Masefield Bio-Fuels business has been in the top four of the most active
PME suppliers to the European bio-diesel market. The skills and market
intelligence that Bernd and his team bring provide the nucleus for Ambrian to
build a broader business supplying a range of energy products to customers
globally", said Justus van der Spuy, Managing Director of Ambrian Energy
Limited.
- Ends -
For further information please contact:
+------------------------+------------------------+
| Ambrian Capital plc | |
+------------------------+------------------------+
| Tom Gaffney, Chief | + 44 (0)20 7634 4700 |
| Executive | |
+------------------------+------------------------+
| | |
+------------------------+------------------------+
| Fox-Pitt Kelton | |
| Limited | |
+------------------------+------------------------+
| Simon Law | + 44 (0)20 3037 5237 |
+------------------------+------------------------+
| | |
+------------------------+------------------------+
| M:Communications | |
+------------------------+------------------------+
| Charlotte Kirkham | + 44 (0)20 7920 2331 |
+------------------------+------------------------+
Notes to Editors:
AMBRIAN CAPITAL PLC
Ambrian Capital plc (AIM: AMBR) is a specialist investment bank active in
Corporate Finance & Equities, Commodities and Principal Investments.
Corporate Finance & Equities
Ambrian Partners Limited is known in the market today for its leading positions
in the metals & mining, oil & gas and cleantech sectors. It provides corporate
finance advice, equity research, sales and trading and market making services.
Ambrian Partners is a member of the London Stock Exchange and is authorised and
regulated by the Financial Services Authority.
Commodities
Ambrian Commodities Limited is a trader and broker specialising in London Metals
Exchange cleared base metals futures and options. Ambrian Commodities is an
Associate Broker Member of the London Metal Exchange and is authorised and
regulated by the Financial Services Authority.
Ambrian Metals Limited is a physical metals merchant with a particular strength
in refined copper. Through Ambrian Metals' offices in London and Shanghai and
agents in New York, Santiago, São Paulo, Seoul and Tokyo, it sources non-ferrous
metals from producers for distribution to an international client base of metals
consumers and merchants.
Ambrian Energy Limited is a newly established international energy trading
company.
Principal Investments
Ambrian Principal Investments Limited is an investment company which holds
Ambrian's principal investment portfolio. It is managed by Ambrian Asset
Management Limited, which is authorised and regulated by the Financial Services
Authority.
Further information on Ambrian Capital is available on the Company's website:
www.ambrian.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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