Mannheim, 28 October, 2009 - CropEnergies AG, Mannheim, the leading European bioethanol producer, reduces the production planning for the current 3rd quarter (1 Sept. to 30 Nov.) due to an unscheduled need for repairs in its new plant in Belgium.
CropEnergies identified the need for this modification after a unit in the distillation part of the plant did not provide the process stability required for a continuous operation. The repairing of the unit is expected to be completed in November. The production facility which is known as the most innovative plant of its kind in Europe will then gradually be brought up to its nominal capacity. CropEnergies ensures that customers will be supplied without interruption.
Due to the short delay in capacity expansion in the Belgian factory BioWanze, CropEnergies expects an operating profit below the previous business year's level for the business year 2009/10. The expectation to attain an income from operations which is significantly higher than the previous year's level remains unchanged, however.
The positive outlook for the coming business year 2010/11 with regard to substantially improved operating profit also remains unchanged.
The CropEnergies AG
The CropEnergies Group - a member of the Südzucker Group - is a leading European producer of sustainably manufactured bioethanol for the fuel sector.
"Crop" stands for "creative regeneration of power". Energy in the form of bioethanol is produced from renewable resources - grain and sugar beets. With subsidiaries in Germany, France, and Belgium, CropEnergies has established itself in a growing market in just a few years. CropEnergies considers itself a pioneer on the German bioethanol market and expands its market position in Europe. The shares of CropEnergies AG (ISIN DE000A0LAUP1) are listed in the Prime Standard at the Frankfurt Stock Exchange.