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DJ Infinity Bio-Energy aquires 99% stake in Brazil Ethanol Co

http://www.tradingmarkets.com/.site/news/Stock%20N [2008-7-23]

Tag : hydrous ethanol

Infinity had 42.3% share in the company prior to the purchase of some 204 million shares. Company directors were unavailable forimmediate comment on the deal.

As a part of the transaction, Cridasa committed to invest more than50% of the Infinity investment in expanding sugarcane fields tosupport sugar and ethanol production growth.

Cridasa produced around 36.1 million liters of hydrous ethanol and23.8 million liters of the gasoline-additive anhydrous ethanol inthe 2006-07 crop, last year. Total sugarcane crushing capacity isaround 1.5 million metric tons per crop year.

Cridasa's operations are in Minas Gerais, Espirito Santo, and Bahiastates, mid-sized to small sugarcane producers.

Infinity's core focus in Brazil is in acquiring sugarcane ethanolcompanies and production. Brazil is the world's leading ethanol exporter, but ethanol makers also benefit from a mandatory 25% ethanol blending policy in traditional gasoline, and an E100 optionof pure ethanol which helps power the country's growing flex-fuelcar fleet.
Infinity has three mills in Brazil, and two others that are stillunder construction and will be used exclusively for ethanolproduction.

-By Kenneth Rapoza, Dow Jones Newswires, 5511-6847-4541,kenneth.rapoza@dowjones.com

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