Seeking Alpha

BioAmber +17% on 210K tons/year sales contract

  • BioAmber (BIOA +16.9%) shares surge after the chemical company said late Monday it had won a 15-year contract from Vinmar International to deliver 210K tons/year of succinic acid from its Sarnia, Canada, plant.
  • BIOA says 50% of the Sarnia capacity is under take-or-pay, with total contract demand exceeding capacity.
  • BIOA and Vinmar also broaden the scope of a previously announced 100K ton/year BDO plant, to also produce 70K tons/year of succinic acid with Vinmar off-taking 100% of the butanediol produced and 70% of the bio-succinic acid produced for 15 years, and commits to off-take 75% of production from a new, third bio-succinic acid plant with 200K tons/year capacity that BIOA plans to start in 2020.
Comments (1)
  • pumpandumps
    , contributor
    Comments (3) | Send Message
    Plant want even be built till Late 2017 Net Income (33,791) (39,538) (30,852) Company is losing money like crazy till then Dump it on the news
    8 Jul, 04:06 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio: