ABF impairs investment in ethanol plant, blames weak euro and falling oil prices

Associated British Foods (ABF) has decided to impair its £98 million (€132 million) investment in Vivergo Fuels, citing 'the continuing fall in crude oil and bioethanol prices, and the further weakening of the euro against the sterling'.

ABF is a shareholder in Vivergo and its wheat-to-ethanol production plant in the UK, along with BP and DuPont.

ABF said in a statement that 'the interim results for the 24 weeks ending 28 February will include a non-cash exceptional charge of £98 million'.