Published 1/28/2019 11:24:51 PM
MADRID, 28 Jan. (EUROPA PRESS) –
CIE Automotive has sold its biofuels plants to the Gunvor group for 13.6 million euros, according to the company’s report to the National Securities Market Commission (CNMV) on Monday.
By the end of 2018, all of CIE Automotive’s biofuels manufacturing activity had been interrupted and was available for sale.
With this operation, the company detaches itself from all its biofuels production plants and ceases in this activity.
The two plants sold to the Gunvor group are Bionor, dedicated to the manufacture of biofuels from used oil and located in Berantevilla (Álava), and Biosur, located in Palos de la Frontera (Huelva).
The agreed price for this operation will be paid in cash on the closing date, once the usual conditions for this type of transaction are met, as specified by CIE Automotive.
The CEO of the company, Jesús María Herrera, stressed that CIE Automotive will now concentrate its efforts on its core business, the automotive industry, in which it intends to continue growing.
The sale of biofuels plants is part of the group’s strategy to achieve the objectives of the 2016-2020 Strategic Plan.