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AGO AG Energie + Anlagen: Strategic participation in an Italian company
-Raw material supplies for future biomass cogeneration plants secured through energy forest
-Construction permit received for biomass cogeneration plant with delivery of power into the public grid
-33 percent share in PELLEREI AGO ENERGIA
Kulmbach, 8 October 2009: AGO AG Energie + Anlagen (cusip number: A0LR41 / ISIN: DE000A0LR415) together with STU S.r.l. has taken a share in PELLEREI AGO ENERGIA Società Agricola S.r.l. in Italy. PELLEREI AGO ENERGIA has a 74 hectare plantation for fast-growing wood in the region between Milan and Turin and has obtained a construction permit for a biomass cogeneration plant with receiving compensation for delivering electric current into the public grid. The energy forest's operative field of activity is the production of fast-growing trees, such as cottonwood, which can be used for firing biomass cogeneration plants.
AGO AG Energie + Anlagen has acquired 33 percent of the shares of the Italian company. The parties agreed not to disclose the purchase price. Of STU S.r.l. - one of the original shareholders of AGO energia S.r.l. - 14 percent are held. The remaining shares are possessed by the brothers Pellerei.
"Through PELLEREI AGO ENERGIA, AGO AG guarantees for a high-quality raw material supply of wood chips on a long-term basis. This strategic participation thus facilitates the raw material management for AGO AG Energie + Anlagen. Furthermore, it will help us push the operative fields of activity in Italy and serve as a further reason for the implementation of biomass cogeneration plants", says Hans Ulrich Gruber, spokesman of the Board of AGO AG Energie + Anlagen.
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