Natural Fuel extends deadline for offers

Australia’s Natural Fuel Ltd. announced that it will still accept offers for its biodiesel business and assets in Singapore, which it plans to sell, even though the June 19 deadline is over. Natural Fuel had said in June that expressions of interest in its assets could take the form of a business sale, recapitalization or asset purchase. It has a 600,000-metric ton per year (mtpy) biodiesel plant in Singapore, which is also capable of producing 60,000 mtpy of refined pharmaceutical-grade glycerine from palm oil and methanol. The company declined to say how many offers it has received so far, but said it would take four to six months for a sale to be completed. (June 22, 2009)