Ad-Hoc Meldungen, news in full

Ad-Hoc Meldungen
n-tv - Berlin,Germany
Fortune Management Inc. / Mergers - Acquisitions - Takeovers / - Fortune acquires majority in the Halle Biodiesel Plant - Subsidiary Global Alternative Energy ...
See all stories on this topic

09. 06. '06 11:50
Fortune Management Inc. / Mergers - Acquisitions - Takeovers / - Fortune acquires majority in the Halle Biodiesel Plant - Subsidiary Global Alternative Energy Germany GmbH takes operational control with immediate effectUSU026281027 euro adhoc: Fortune Management Inc. / Mergers - Acquisitions - Takeovers / - Fortune acquires majority in the Halle Biodiesel Plant - Subsidiary Global Alternative Energy Germany GmbH takes operational control with immediate effect Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. -------------------------------------------------------------------------------- 09.06.2006 Zug/Switzerland, 9 June 2006 - Global Alternative Energy S.a.r.L. ("GATE"), a 65 % subsidiary of Fortune Management Inc. (General Standard, ISIN USU026281027, SIN: A0BLYY) has, through a subsidiary, acquired 52 % of JC Neckermann Biodiesel GmbH in Halle ("Halle") from two former shareholders, evidenced by notarized contract as of 8th June 2006. The transfer of 10 % hereof is subject to a condition precedent. At the same time, the partners in GATE (Dieter Heisig, Marlene Neckermann, Philip Neckermann) have transferred their 48 % shareholding in Halle into GATE, which so far already owned the beneficial ownership interests. With immediate effect, GATE has assumed full operational responsibility for the refinery, which produces biodiesel at a capacity of 60.000 tonnes per year and pharmagycerin at 10.000 tonnes per year. Hence, Halle will be fully integrated into GATE and can be coordinated with the other refineries. The construction of the presently world’s largest integrated biodiesel refinery in Wittemberg is in full progress. The completion of these 200.000 tonns per year facility is being expected in the first quarter 2007. The same applies for the 100.000 tonns per year refinery in Enns, Austria. The negotiations about the further expansion of the GATE-production capacity throughout Europe are in advanced stage. Fortune recently placed a bond issue over Euro 70 million with Goldman Sachs International and further institutional investors, whereby the entire financing for this scheduled expansion was being secured. End of AdHoc message. René Müller, CEO of Fortune, comments the transaction as follows: "Taking over control of Halle is an important move in the execution of our strategy. It brings us one step closer to the defined objective of having production capacity until year-end 2006 of at least 800.000 tonnes per year under contract, under construction or in production." Dieter Heisig, CEO of GATE, said: "In order to achieve the necessary scaling effects it is critical to coordinate all of the GATE facilities centrally. Halle was the first plant that we built. Therefore, it takes an exemplarily role within the entire group. I thank Prinz Ysenburg and Jörg Richard Lemberg for their help at the time in realizing the project and I am convinced that the facility is now placed ideally within the Fortune/GATE group." Profile of Fortune Management Inc.: FORTUNE Management Inc., Zug/Switzerland, is an on the Frankfurt Stock Exchange listed private equity firm. Its two main activities Principal Investments and Private Equity Management operate from the same corporate platform. Principal Investments comprises of direct investments into different businesses, such as e.g. Wealth Management in Switzerland (Fortune Wealth Management Group Ltd.) or Biodiesel (GATE Global Alternative Energy S.a.r.L.). Fortune is generally seeking to acquire controlling interests in these investments for dividend income and capital gain. Under Private Equity Management, Fortune subsumes its investments in Private Equity Managers (General Partners and Advisors), such as Antarctic International Private Equity Fund S.A. in Chile. The focus in this segment lies in consolidating long-term recurring management and performance fee income. FORTUNE has subsidiaries in Zug, Zurich, Geneva, Vienna, Luxembourg, Wuerzburg, Santiago de Chile and Dubai. The company’s shares (ISIN: USU 026281027) are quoted on the Regulated Market (General Standard) at the Frankfurt Stock Exchange and the DIFX (Symbol: FMI1) in Dubai. end of announcement euro adhoc 09.06.2006 11:07:17 -------------------------------------------------------------------------------- ots Originaltext: Fortune Management Inc. Im Internet recherchierbar: http://www.presseportal.de Further inquiry note: For more information: Fortune Management Inc. Mark Kübler Investor Relations Tel.: +41 41 727 10 40 Fax: +41 41 727 10 41 Email: ir@fortune-management.com Branche: Financial & Business Services ISIN: USU026281027 WKN: A0BLYY Börsen: Börse Berlin-Bremen / free trade Baden-Württembergische Wertpapierbörse / free trade Börse Düsseldorf / free trade Frankfurter Wertpapierbörse / regulated dealing/general standard

news in full
EEMS - Energy Efficient Motorsport - UK
... DaimlerChrysler working with Peter Cremer North America, a major producer of biodiesel, to enhance public awareness of biodiesel. ...

ACFO ‘dismayed’ by DfT decision on low carbon car grants

The Association of Car Fleet Operators (ACFO), has called the Government’s decision to abandon financial incentives for the purchase of low carbon vehicles a ‘major disappointment’.

With fleets being the major driving force behind the purchase of low carbon dioxide-emitting vehicles, ACFO has condemned the Department for Transport’s decision not to replace the PowerShift low carbon car and van funding programme, which ended 15 months ago, and the length of time it has taken to announce the complete abandonment of financial support towards the acquisition of ‘clean’ vehicles.

ACFO director Stewart Whyte said: “This week’s decision has removed one of the key measures - financial assistance - behind fleet operators and companies introducing low emission vehicles.

“With financial assistance to offset the additional acquisition cost of low carbon vehicles, fleets were able to make significant operational savings, including on fuel budgets, and drivers were able to benefit from lower company car tax bills.

‘Now, ACFO fears that without cash help available companies may not look to introduce low carbon vehicles to their fleets as a priority, except in a small minority of cases where corporate social responsibility outweighs all other business decisions.”



JJ&A to publish 2006 biodiesel market study next month

In July, Jim Jordan & Associates, LLP, a Texas-based biofuels research specialist, will publish a market study of the U.S. and international markets for biodiesel and the prospects for development over the next five years.

The study will contain supply and demand information for diesel and biodiesel. Detail will be included on technology, feedstocks, production economics and logistics, as well as regulatory developments. The disposition of potential by-product glycerin will also be addressed.

Jim Jordan & Associates is a market analysis and intelligence provider to the global methanol, ethanol & transportation fuels industries.

(www.jordan-associates.com/)



Alliance of Automobile Manufacturers members invest in alternative fuel partnerships

The Alliance of Automobile Manufacturers in the USA reports that its member companies are involved in more than 25 distinctive partnership programmes with fuel providers to expand the alternative fuelling infrastructure, conduct research and development, and to get more alternative fueling pumps installed across the USA.

Some of the the partnerships include:

- BMW Group working with Air Products and the University of California-Irvine to build a liquid hydrogen station on the UCI campus.

- Ford working with VeraSun Energy to develop a Midwest Ethanol Corridor, and the first phase will convert about 40 gas pumps in Illinois and Missouri to E-85.

- DaimlerChrysler working with Peter Cremer North America, a major producer of biodiesel, to enhance public awareness of biodiesel.

- General Motors is working with Meijer and CleanFUEL USA in Michigan to add approximately 20 new E-85 fuelling sites in the state.

- Toyota is working with ExxonMobil on advanced fuels, combustion research and future energy demand, and with Shell and Air Products on hydrogen infrastructure development.

- Volkswagen, Shell and Iogen Corporation are conducting a joint study to assess the economic feasibility of producing ethanol from materials such as straw.

(www.DiscoverAlternatives.com)