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Australian Biodiesel Group finding local market tough

Australia's largest biodiesel producer, Australian Biodiesel Group, has announced that it is looking to raise AUD$15.9 million (US$12.4 million) to launch a new business plan after a difficult year in 2006. The money will be via a rights issue at 5c per share which values the company significantly below its current share price. Changes to the Australian biodiesel market, including biofuels legislation, negatively impacted the company during 2006, which is now positioning itself to expand into North America where it is believed profits will be ... Read more →

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