St1 Nordic Oy will purchase SOK’s shares of NEB in the 5th of October 2017
North European Bio Tech Oy (NEB), an associated company of SOK Corporation and energy company St1, was established in 2013 with the purpose of investing in biofuel production units. St1 Nordic Oy will purchase SOK’s shares of NEB in the 5th of October 2017.
As a consequence St1 Nordic will then own 100 % of the shares of the company and NEB’s ethanol production plants in Gothenburg and Kajaani will belong to St1, just like Etanolix plants in Vantaa, Lahti, Jokioinen and Hamina together with Bionolix in Hämeenlinna and dehydration unit in Hamina. Also the future advanced ethanol plant projects like Follum, Kajaani and Pietarsaari will proceed by St1 Nordic.
This transaction will not have any impact on any employees or other associated company with SOK, North European Oil Trade Oy (NEOT).
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