COFCO acquires interest in ethanol producer

BBCA Biochemical Co., Ltd., located in Bengbu, Anhui province, has received a capital infusion with the acquisition by China National Cereals, Oils & Foodstuffs Corporation (COFCO) of a 20.7% stake in BBCA Biochemical. BBCA Group’s interests in BBCA Biochemical will be reduced to 3%. BBCA Biochemical is engaged in the further processing of agricultural products through advanced bio-fermentation and modern chemical separation techniques to produce bio-energy and biomaterial. It is one of the manufacturers appointed by the state to produce fuel ethanol and supplies the requirements of Anhui, Shandong, Jiangsu and Hebei provinces. Headquartered in Beijing, COFCO is a leading cereals, oils and foodstuffs producer and trader in China, focusing on agricultural products trading, bio-energy, foodstuff processing and real estate, as well as financial services. (December 6, 2006)