Australian Renewable Fuels shuts down production

Australian Renewable Fuels (ARF) requested the Australian Stock Exchange halt trading of their shares (ASX:ARW) on Thursday 01 November 2007 pending an announcement within 48hrs. That announcement was made on Friday 02 November 2007 and it informed the market that the ARF board had decided to immediately place the Australian production facilities on care and maintenance.

ARF are citing rapidly escalating feedstock prices. Tallow in Australia has increased in price from less than $600 per tonne to over $900 per tonne in the last six months due to demand from China. As a consequence both ARF processing facilities have become uneconomic.

ARF’s focus has now moved to the United States where it believes its technology can provide better commercial value for its shareholders. They have been undertaking a feasibility study and opportunity assessment in the US and now look likely to set up a plant in the US.

Source: ASX via The AgeThe Australian

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