Bertin to make green investment in Brazil
Date added: 11th March, 2010 at 09:11
(view all articles from March, 2010)
Categories: Natural Resources
The company has signified its commitment to renewable materials by buying a 71 per cent stake in the ethanol producer.
As part of the investment in Brazil, Bertin will take control of mills formerly owned by Infinity in the Brazilian states of Mato Grosso do Sul, Epirito Santo, Bahia and Minas Gerais.
In May 2009, Infinity filed for bankruptcy, after raising $516 million (£345 million) in a public offering in 2006 in an attempt to secure its future.
Bertin, which is based in Sao Paulo, is perhaps best known as a producer of meat, but it sold its meatpacking facilities to JBS SA last year.
This comes after a merger between two ethanol producers resulted in a £1.2 billion investment in Brazil.
ETH Bioenergy bought debt-laden rival company Brenco in a deal that will see three billion litres of ethanol produced annually by 2012 by the company.
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