Operations and Strategy Update (8353D)
March 29 2011 - 8:58AM
UK Regulatory
TIDMBIP
RNS Number : 8353D
Biofutures International plc
29 March 2011
29 March 2011
Biofutures International plc
("Biofutures" or the "Group")
Operations and Strategy Update
Operations Update
Biofutures is pleased to announce that feedstock supply
agreements have been executed between its subsidiary, Zurex
Corporation Sdn. Bhd. ("Zurex"), and two suppliers of Crude Palm
Oil (CPO), namely the Teck Guan Group and CC Palm Trading Sdn Bhd.
In addition, an off-take / contract manufacturing memorandum of
understanding has been signed between Zurex and CC Palm Trading Sdn
Bhd.
As prices of CPO have been highly volatile in the first three
months of 2011, Zurex has been extremely cautious in its refining
approach in the view of optimising the use of its resources and to
avoid any unwarranted losses. These agreements should help reduce
the impact of such volatility in the longer term.
The Group is also pleased to announce that, on the average,
specifications of RBD Palm Oil produced by the Zurex refinery
exceeds that of the Palm Oil Refiners Association of Malaysia
(PORAM), an internationally accepted, Malaysian Palm Oil Board
standard, as shown below:
RBD PALM OIL (RBD Palm Oil) PORAM Spec Zurex Spec
Free Fatty Acid (FFA) (As Palmitic) 0.1% Max 0.04%
Moisture & Impurities (M&I) 0.1% 0.02%
Peroxide Value 1.5 Meg/Kg Max 0.87 Meg/Kg
Iodine Value 50 -55 Meg/Kg 52.1 Meg/Kg
M.Pt (AOCS Cc3-25) 33 - 39C 34C
Colour (5 1/4" Lovibond Cell) 3 Red Max 2.2 Red
Strategy Update
In view of the extreme volatility nature of the feedstock
prices, Biofutures has started exploring the viability of owning
its own plantation. In addition, the Group is exploring the
possibility of collaborating with reputable process plant suppliers
to consider other downstream activities such as further fractioning
of RBD Palm Oil into RBD Palm Olein as well as to produce niche and
high valued derivatives that will complement the activities and
revenue of our refinery.
For further information, please contact:
Biofutures International plc Tel: + 603 6203 5136
Joe Wong, Chief Executive Officer
www.biofuturesplc.com
Daniel Stewart & Company plc Tel: + 44 (0) 20 7776 6550
Oliver Rigby/Antony Legge/Colin
Rowbury
www.danielstewart.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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