Neste acquires majority shares of IH Demeter B.V.

Neste acquired 51% shares of IH Demeter B.V., a trader of animal fats and proteins, said an official press release on Monday.

Neste owns 51 % of the shares of IH Demeter B.V., making Neste the controlling shareholder. The former owners remain as co-owners.

“I am delighted to announce, that the transaction has been finalized. We share the same vision for the future, and we are devoted to developing Neste Demeter’s business further. I am glad that the co-owners trusted us to be the best partner in taking their business to the next level”, said Kaisa Hietala, Executive Vice President of Renewable Products business area of Neste.

“This supports Neste’s strategy of building a global waste and residue raw material platform to secure raw material availability and competitiveness. With an efficient European-wide logistical setup, the company is well positioned to serve Neste in delivering future raw material volumes to Neste’s renewable product refineries,” Hietala added.

As a result of the deal the company will be called Neste Demeter B.V.