Malaysia buys US biofuel company

Malaysia’s land agency, Felda, has acquired North America’s biggest biodiesel producer Twin Rivers Technologies for US$69 million (RMB522 million), according to Malaysian news agency Bernama.

“The acquisition will enable Felda to be a global leader in the (vegetable oils) industry,” Deputy Prime Minister Najib Razak was quoted as saying after witnessing the signing ceremony in the Malaysian government administrative capital of Putrajaya.

Established in 1994, Twin Rivers has plants in Massachusetts and in Cincinnati, and uses vegetable oils including palm oil for its products. Malaysia is the world’s largest palm oil producer.

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