B2 blend lifts profits

A Philippines’ based producer of biodiesel, resins and olechemicals has reported a 3% increase in profits after the government implemented a B2 blend.

Chemrez Technologies, located in Manila, saw profits increase to €5.3 million in the first 9 months of 2009, up from €5.1 million in the same period last year.

The company sales increased by 63% when it implemented B2, which is a 2% biodiesel blend for all diesels, on 6 February 2009.

Despite the sales growth the value of the company’s sales did not increase significantly due to a more competitive market environment and the ongoing economic crisis.

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