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Mannheim, 25 July 2008 - At todays Annual General Meeting of CropEnergies AG for the 2007/08 financial year all the resolutions put forward by the companys Executive Board and Supervisory Board were adopted by a clear majority of over 99 percent.
Some 800 shareholders and guests attended the Annual General Meeting which was held in the Rosengarten in Mannheim. Approximately 81 percent of the share capital was represented.
The shareholders and the representatives of the shareholders? associations showed particular interest in the strategic goals that CropEnergies is pursuing, the progress achieved in implementing the expansion programme to triple production capacity in the current financial year, and the developments on the growth market for renewable energies.
CropEnergies affirmed its forecast to increase revenues in the current financial year by around 50 % over the previous year (? 187 million) and expects a positive operating result.
The forecast growth in revenues is based on organic growth and acquisitions. Production capacity at the Zeitz plant was already increased by 100,000 to 360,000 m³ per year of bioethanol in June 2008. The French bioethanol producer Ryssen Alcools was also acquired in the same month. Besides a production capacity of 100,000 m³ per year of bioethanol, Ryssen Alcools also refines approximately 80,000 m³ of high-quality alcohol for traditional and technical applications from raw alcohol. The new bioethanol plant in Wanze, Belgium, with a production capacity of up to 300,000 m³ per year of bioethanol is due to be completed in the fourth quarter.
The CropEnergies AG
The CropEnergies Group - a member of the Südzucker Group - is an established leading European producer of 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 as a bioethanol producer in a growing market in just a few years and it operates todays largest bioethanol plant in Europe in Zeitz, Saxony-Anhalt, Germany. 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.