Neste’s acquisition of Walco Foods, an Irish trader of animal fats, has been approved by regulatory authorities and the transaction has been closed.
Neste’s raw material strategy is focusing on growth of waste and residues and the development of new raw material sources.
The company said this acquisition will help it to enhance its global supply of waste and residue raw materials.
“This is another important step for Neste in the execution of our growth strategy. With this acquisition we continue to build a global waste and residue raw material platform and add trading capabilities in Ireland,” said Matti Lehmus, president and CEO of Neste, earlier this year.
Together with the previously announced acquisitions of IH Demeter, Bunge Loders Croklaan and Count Terminal in the Netherlands, and Mahoney Environmental and Agri Trading in the US, Walco Foods will enhance Neste’s supply of global waste and residue raw materials.
Walco Foods was established in 1996 as a family-run business. The in-depth knowledge and market understanding developed over the years has helped Walco Foods become a leading animal fat and by-products trading company in Ireland.
Neste refines waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. This is possible thanks to its proprietary NEXBTL technology – a platform that allows the company to turn a wide variety of renewable waste and residues and oils into premium fuels and other products.
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