USA: Neste to acquire raw material provider Agri Trading
Agri Trading is a big player in trading animal fat waste, used cooking oil, technical corn oil, and other vegetable oils.
Neste has agreed to acquire 100% of Agri Trading, one of the largest independent renewable waste and residue fat and oil traders in the United States, and its affiliate entities.
“This agreement supports our renewables growth strategy and further strengthens our global renewable raw material sourcing as well as our footprint in the United States. Agri Trading complements our previous acquisition of Mahoney Environmental in the United States with its wide trading network of renewable raw materials compounded with efficient logistics,” says Neste’s President and CEO Peter Vanacker.
Neste refines waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials.
Agri Trading is based in Minnesota and was established in 1977. It has become a big player in trading animal fat waste, used cooking oil, technical corn oil, and other vegetable oils throughout the lower 48 States, Canada, Mexico, and Europe. The company manages all aspects of transportation, logistics, transloading, and export services, providing on-time pick-up and delivery.
The transaction supports Neste in its efforts to build a solid, resilient and flexible global waste and residue raw material platform that can keep pace with the customer’s growing demand for renewable products. Together with previously announced acquisitions of IH Demeter, Bunge Loders Croklaan and Count Terminal in the Netherlands, and Mahoney Environmental in the United States, Agri Trading will also enhance Neste’s competitiveness in the global waste and residue raw material market.
