Peru’s Maple Shifting to Cane Ethanol in ‘Transformational Year’
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Maple Energy Plc, the Peruvian company that made more than 99 percent of its revenue from selling petroleum products in 2011, expects to get more than half its business from ethanol sales this year as its $254 million sugar-cane mill expands production.
The company will generate more earnings before interest, taxes, depreciation, and amortization from sugar cane than from refining oil in the first full year of the ethanol plant’s operation, Chief Executive Officer Rex Canon said today in a telephone interview. Ebitda was about $16 million in 2011.