Musim Mas Acquires Dutch Glycerin Refinery
Singapore palm oil company Musim Mas has agreed to buy Dutch Glycerin Refinery (DGR) for an undisclosed sum. Wholly owned subsidiary Musim Mas Europe will acquire the company that produces refined and high quality glycerin at the Delfzijl Chemical Park in the Netherlands. Bachtiar Karim, executive chairman of the the Singapore-based group, said the acquisition is in line with its investment strategy of integration and synergy and will add further value to its downstream businesses.
DRG, established in 2014 as a carve-out from Dutch biomethanol producer BioMCN, has a refining capacity of more than 200,000 t/y, making it the largest crude glycerin refining unit at a single location in the world, according to Musim Mas. The company said DGR is well positioned at the center of the global glycerin trade route with easy access to major European end-markets via road, rail, barge and sea. Europe accounts for approximately 41% of global crude glycerin supply and consumes 28% of the world’s refined glycerin.
Applications for refined and high quality glycerin are found in paints, cosmetics, pharmaceuticals, industrial products and home and personal care products.
