4 Oct 2012

Preferred bidder selected for Biodiesel NZ

12:24 pm on 4 October 2012

Solid Energy has selected a preferred bidder for its agribusiness division, Biodiesel New Zealand.

As part of the State miner's restructure, it announced it would sell its biodiesel business which operates in two parts.

Southern Packers, an onion and potato packer and exporter, has been chosen to lead the consortium for the agri-business division.

That part of the business contracts with farmers to grow oilseed rape, processes it at its Rolleston plant and sells the oil into the food industry and meal as animal feed.

If negotiations are successful, Solid Energy expects the consortium to take over the business in November.

Solid Energy says it's considering bids for the biofuel division.