D1 Oils Plc
07 March 2008
7 March, 2008
Statement on Refining and Trading Operations
As stated in our Q3 Business Update of 4 December 2007, D1 Oils plc (D1)
continues to review its downstream refining and trading operations, at both
Middlesbrough and Bromborough, in the context of imports of heavily subsidised
biodiesel from the US (B99).
As part of this ongoing review, D1 announces today that it has commenced a
consultation process with employees at both its Middlesbrough and Bromborough
sites. Consultations will begin immediately with employees at both locations.
A further announcement will follow when consultations are concluded.
Commenting on the announcement, Elliott Mannis, Chief Executive Officer of D1
Oils plc, said:
'The decision to begin consultations with employees is not one we have taken
lightly. Imports of heavily subsidised biodiesel from the US, so-called B99,
have eroded margins to the point where we have no choice but to consider how to
reduce operating costs. We are taking this action in order to manage the
business proactively in a difficult market.'
D1 Oils plc:
Graham Prince, Director, Communications
Tel: +44 (0)20 3043 8732
Mobile: +44 (0)7973 323 840
Tel: +44(0)20 7404 5959
Notes to Editors
D1 is a vertically integrated biofuels technology company. We develop new energy
crops into sustainable commercial fuels. We provide vertically integrated
technology and services: upstream technology for the breeding, development and
planting of new varieties of commercial biofuel crops; and downstream technology
to test and process crops to produce high-quality biofuels.
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