DGAP-News: CURCAS OIL N.V. announces increase in stake in Philippian subsidiary
(firmenpresse) - DGAP-News: Curcas Oil N.V. / Key word(s): Strategic Company Decision
CURCAS OIL N.V. announces increase in stake in Philippian subsidiary
15.02.2011 / 20:00
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CURCAS OIL N.V. announces increase in stake in Philippian subsidiary
Amsterdam, The Netherlands, February 14th, 2011 - Curcas Oil N.V., an
operator of jatropha plantations in Thailand, Indonesia and the
Philippines, announces today the successful implementation of a capital
increase at its subsidiary Curcas Oil Philippines Inc. in the Philippines.
The share capital of the company has been increased from 2.5mn PHP to 10mn
PHP and Curcas Oil N.V. was able to increase its stake by 50% from 60% to
90%.
Further the company announces that the ramp up of the production has been
slower than anticipated. This is part owed to the fact that the
rehabilitation of the plants is progressing slower than expected. When
entering the Philippian market, the company assumed existing plantations
and now actively works together with the local farmers in regard to
reforestation and proper cultivation. As a part thereof seminars are being
held and consultants of the company visit regularly the plantations to
support the farmers with advice and experience. Also the setup of the
logistics turns out to be more complex than originally anticipated inter
alia the delivery of Jatropha seeds. Due to the lagging development of the
operations, a change in local management will also be seen through from
which the company expects an increase in productivity and rapid
improvements.
In other news, the company is pleased to announce that for the setup of a
R&D department a bio chemist with a degree from the University of Malaysia
has been hired. She will support the company's three subsidiaries and will
be helpful in analyzing the chemical compositions of the final products.
About Curcas Oil N.V.
Curcas Oil N.V. is a producer of Jatropha Crude Oil. With its subsidiaries
Alternative Energy Manufacturing Ltd. (Thailand), Curcas Oil Philippines
Inc. (Philippines) and PT Pengembangan Jarak (Indonesia), Curcas Oil N.V.
cultivates Jatropha Curcas plants for the production of Jatropha Crude Oil
in a sustainable and responsible manner.
Curcas Oil N.V.
Haaksbergweg 71
1101 BR Amsterdam
The Netherlands
Tel. +31 20 312 1212
info(at)curcas-oil.com
www.curcas-oil.com
End of Corporate News
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112303 15.02.2011
Datum: 15.02.2011 - 20:00 Uhr
Sprache: Deutsch
News-ID 33214
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