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RNS - VERBIO: Biofuels contribute to climate protection and provide new jobs Outlook for 2008 confirmed

Company: VERBIO Vereinigte BioEnergie AG Date: 2007-12-18 Language: English Register to download

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 News Details

Corporate | 18 December 2007 11:58

#   

VERBIO: Biofuels contribute to climate protection and provide new jobs – Outlook for 2008 confirmed

**VERBIO Vereinigte BioEnergie AG / Miscellaneous**

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
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Zörbig/Leipzig, December 18, 2007 – The Climate Change Conference in Bali
has been concluded. The achievements are seen as milestones on the way to
the new climate treaty, which shall be finalized in 2009 in Copenhagen and
replace Kyoto protocol expiring in 2012. In Bali representatives of the
German government have pleaded for an intensification in efforts to protect
the climate; however, with the climate package adopted by the cabinet on
December 5, 2007, the German government has missed the chance to fulfil its
ambitious goal of assuming a leading role in climate protection, according
to the management board of VERBIO Vereinigte BioEnergie AG, one of the
largest biofuel producers in Europe. 'We are disappointed in the German
government's biofuel strategy, said Claus Sauter, Chief Executive Officer
of VERBIO, and continued: 'The suggestion made by the German Social
Democratic Party with its total quota of 7 % and a general exemption of
public transportation and agriculture from the petroleum tax would have
been a sustainable concept for a continuance of the German biodiesel
industry which the entire industry sector could have accepted. The general
conditions put forth in the proposal could have strengthened the demand for
biofuel through the increased and more heavily increasing mixing quotas and
as a result ensured the investments made by the industry through higher
utilization of the available plants. Even a further tax increase for pure
biodiesel (B100) could have been compensated for with a stronger
establishment of the market.'
With the decision to adhere to the status quo, which means to the further
reduction of the tax relief for biofuel and leaving the regulations on
admixing unchanged at the end of 2006, the German government blocks the
chance for the new biofuel industry in Germany to establish its market. It
is to be expected that at the beginning of 2008 more than 50 % of the
biodiesel plants will have to be shut down for good since no market will
exist. The bioethanol market in Germany will continue to suffer due to
insufficient demand and cheap imports from Brazil.
Roadmap biofuel should support middle and long-term climate goals
It remains to be seen to what extent the roadmap adopted in November by the
German Federal Ministry for the Environment, Nature Conservation and
Nuclear Safety (BMU) and the Federal Ministry of Food, Agriculture and
Consumer Protection has positive effects on domestic biofuel production and
its suppliers. What should be achieved through this is a stop to the
strongly criticized undesirable developments arising from the use of
biofuels, for instance, the deforestation of the rain forests in South
America and the tropical forests in Asia.
Outlook confirmed
Despite this unsatisfactory decision of the German government, the
management board for VERBIO continues to assume that the long-term growth
trend in the biofuel market will remain intact in Europe. The management
board will further continue to implement measures to strengthen
competitiveness in order to profit from an improvement of the biofuel
industry's economic situation in 2008.


Contact
VERBIO Vereinigte BioEnergie AG
Sandra Haacker    Alexandra Mühr
Public Relations   Public Relations/Investor Relations
Humboldtstraße 18   Humboldtstraße 18
04105 Leipzig    04105 Leipzig
Phone: +49 0)341 30 85 30 63  Phone: +49 (0)341 30 85 30 85
Fax:   +49 0)341 30 85 30 99  Fax:   +49 (0)341 30 85 30 99
Email: sandra.haacker@verbio.de  Email:alexandra.muehr@verbio.de
www.verbio.de

Information on VERBIO Vereinigte BioEnergie AG
The VERBIO Group is one of the leading producers and suppliers of biofuels
and also the only industrial-scale producer of biodiesel and bioethanol in
Europe. Nominal capacity currently amounts to around 400,000 tons of
biodiesel and 300,000 tons of bioethanol per year. The company has
developed its own processes and innovative technologies for the production
of biodiesel and bioethanol. It supplies its products directly to European
mineral oil corporations, mineral oil traders, independent fuel stations
and haulage companies. VERBIO AG also markets high-quality pharmaglycerin
for the consumer goods and cosmetic industries (glycerin is a by-product of
biodiesel production). Within the Group, VERBIO AG acts as the management
holding company. The Group’s operating business is run by its subsidiaries:
MUW Mitteldeutsche UmesterungsWerke, NUW Nordbrandenburger
UmesterungsWerke, MBE Mitteldeutsche BioEnergie, NBE Nordbrandenburger
BioEnergie and SBE Swiss BioEnergy.

Important Note
This Press Release contains forward-looking statements, which are based on
assumptions and estimates of the company management of VERBIO Vereinigte
BioEnergie AG. Even though the company management believes that these
assumptions and estimates are correct, the actual future development and
actual future results can deviate substantially from these assumptions and
estimates due to many factors. For example, these factors can include
alteration of the economic situation, legal and regulatory constraints in
Germany and the EU, and changes in the industry. VERBIO assumes no
liability and provides no warranty that future developments and actual
future results will agree with the assumptions and estimates expressed in
this Press Release.
18.12.2007  Financial News transmitted by DGAP
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Language:     English
Issuer:       VERBIO Vereinigte BioEnergie AG
              Humboldtstraße 18
              04105 Leipzig
              Deutschland
Phone:        +49 (0)341 30 85 30 90
Fax:          +49 (0)341 30 85 30 99
E-mail:       pr@verbio.de
Internet:     www.verbio.de
ISIN:         DE000A0JL9W6
WKN:          A0JL9W
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Stuttgart, Düsseldorf, München
 
End of News                                     DGAP News-Service
 
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