Agrenco’s financial and treasury arm, which operates from Malta and is located at The Park Lane Buildings, Guardamangia, has just concluded another important process in its history: a successful primary IPO.

When the opening bell chimed for the company’s BDRs at the São Paulo Stock Exchange, Agrenco was already capitalised and pursuing the consolidation of its position in the market as a services and integrated solutions provider to agribusiness.

The results of 2007’s last quarter show the group’s accelerated growth. Gross income amounted to R$89.6 million (€33.5million), showing an increase of 340 per cent year-on-year, totalling R$196.6 million (€73.5million) in September 2007, a growth of 65 per cent when compared to September 2006.

During Q1/2008, Agrenco opened one of the three planned biodiesel production complexes. Two of these buildings include soybean-crushing plants that will also generate electric power. All three plants will be using state-of-the-art technology developed by Agrenco itself. Located in the Brazilian cities of Alto Araguaia (MT), Caarapá (MS) and Marialva (PR), the plants are estimated to have a total production capability of 425 million litres of biodiesel and of 320,000 MWh per year of electricity. The latter will be sold to the electric network, in addition to producing 1,050,000 tonnes of soy bran.