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USTC acquires majority stake in CM Biomass

Denmark’s USTC has acquired a majority 60% stake in compatriot CM Biomass, the world’s largest independent wood pellet trading company.

The CM Biomass management team and the organisation will remain unchanged with Simon Rodian Christensen as its CEO. CM Biomass will form a new and separate entity in the USTC portfolio that already covers companies like Bunker Holding and Uni-Tankers.

“The objective is to build on its global leading position within sourcing and distribution of sustainable biomass which is one of the key components in the green transformation of the international power and heat production,” USTC stated in a release today.

No price for the transaction has been revealed.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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