News

2008-11-17 Financial success of Elstar Oils S.A., polish manufacturer
of biodiesel

Revenues from the sale in October this year of Elstar Oils S.A. in basic activities amounted to 34.9 million USD. For comparison - in September These revenues amounted to EUR 32.7 million (an increase of 2.2 million USD). Cumulative revenues Company in 2008 for the period January-October amount to 376.3 million USD. This amount represents the value of the unit without taking into account revenue from the sale of rape.

Elstar Oils S.A., as befits a manufacturer of refined oils and vegetable fats, is developing a new area of business in the growing Polish biofuels market, focusing in particular on the production of biodiesel.

The Company has built a brand new production plant on a green field site at Malbork for this purpose. This uses the latest technology and can produce 100 000 tons per year of EN 14214 fatty acid methyl esters.

The Company has also increased the production capacity for rapeseed oil to provide the raw material to enable the biodiesel plant to become the market leader. This will help Poland meet the mandatory blending requirements created by European legislation. The entire biodiesel manufacturing process together with its supporting organization meet all the requirements of the Polish Act on biocomponents and biofuels.

This modern factory is managed by Biopaliwa S.A., a wholly-owned subsidiary of Elstar Oils S.A. which was established specifically to produce biodiesel and non-GMO kosher crude glycerine. Company’s long-term experience in the production of vegetable oils and fats allowed it to achieve the highest standard in its technological processes.

The Company has implemented a Quality System ensuring consistent high quality of the biodiesel produced and the relevant Quality Certificate has been issued by the Air Force Institute of Technology – the only body in Poland authorized to certify and control the quality of the biocomponents produced and supplied to the Polish biofuels market. The Company also has a concession for the manufacture of liquid fuels issued by the Polish Energy Regulation Authority. This permits the production and sale of biodiesel (B100), a substitute for conventional diesel fuel, direct to customers.

Source: www.elstaroils.pl
Edited by: Izabela Klockowska