UK bioethanol joint venture Vivergo Fuels

RNS Number : 7744D

Associated British Foods PLC

03 February 2015

 

Associated British Foods plc

UK bioethanol joint venture Vivergo Fuels

                                                                                                                                    3 February 2015

Associated British Foods plc today announces that, in light of the continuing fall in crude oil and bioethanol prices, and the further weakening of the euro against sterling, it has taken the decision to impair its investment in Vivergo Fuels Limited, its wheat-fed bioethanol joint venture with BP and DuPont in the UK.  The interim results for the 24 weeks ending 28 February will include a non-cash exceptional charge of £98m.

For further enquiries please contact:
Associated British Foods
John Bason, Finance Director Flic Howard-Allen, Head of External Affairs	Tel:  [phone]
Citigate Dewe Rogerson
Chris Barrie, Shabnam Bashir	Tel:  [phone]

Notes to Editors

Associated British Foods is a diversified international food, ingredients and retail group with sales of £12.9bn and 118,000 employees in 47 countries.  It has significant businesses in Europe, southern Africa, the Americas, China and Australia.  It aims to achieve strong, sustainable leadership positions in markets that offer potential for profitable growth, and deliver quality products and services that are central to people's lives.  The business is split into five segments:  Sugar; Agriculture; Retail; Grocery; and Ingredients.

 

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