IOI buys oleo ops of German firm for RM433mil


IOI's oleochemical plant in Pasir Gudang. IOI says the German deal will benefit existing production sites within its oleochemical division.

PETALING JAYA: IOI Corp Bhd is buying Cremer Oleo GmbH & Co KG entire’s oleochemicals business in Germany for 89.4 million euros (RM433.3mil) as it expands its value chain.

The plantation heavyweight in a Bursa Malaysia filing yesterday said the oleochemical business’ production facilities were in Witten and Zur Hafenspitze.

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