Verbio Vereinigte BioEnergie AG said its domestic plants are running as normal after the German biofuels producer shelved plans to invest in Eastern Europe.
The facilities, which supply biodiesel and bioethanol to oil companies, are operating at about 80 percent of capacity, spokeswoman Isabel Rossberger said today by phone from Leipzig, Germany. Verbio will no longer proceed with plans to build production facilities in Serbia, Hungary and Germany, she said.
Verbio decided against the investment because of competition from Indonesian and Argentinian imports as well as regulatory uncertainty in the European Union, according to a statement today.
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