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MG Baltic Group puts S4 Turtas Lithuanian ethanol plant up for sale

The owners of the S4 Turtas have put their ethanol plant in Šilutė, Lithuania, up for sale

S4 Turtas is part of the MG Baltic Group. The group is engaged in a number of industries including retail, logistics, media and real estate.

The facility can produce around 55 million litres of bioethanol per year and 150,000 litres per day, according to S4 Turtas.

The plant can also produce rectified alcohol.

According to the company, production had stopped around 2.5 years ago. However, production “can be resumed” the company said.

In a presentation statement, the company also stated that during the years 2004 and 2014 it invested €25.5 million in upgrading the plant.

Asked why the company is selling the plant, S4 Turtas CEO Marijus Stroncikas told Biofuel s International: “There were enough raw materials for the plant. However, the price of the material was fluctuating a lot and there were no long-term commitments. For example, we had issues when big sale tenders were won with long-term fixed prices. We could not get the same raw material at a fixed cost for the long term. Hence, some sales became profits and some became losses.

“Elsewhere, when we had good costs for raw materials and plenty of quantity we lost some big sales tenders. So, in general these are synchronisation of sales versus supply issues.”

This story was written by Liz Gyekye, editor of Biofuels International.





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