FRANKFURT (Thomson Financial) - Volkswagen AG and Daimler AG jointly bought a minority stake in German biofuel company Choren Industries GmbH to help ensure broad market-entry of environmentally friendly fuel.
No financial details were disclosed.
The two companies will support Choren in developing and setting up biomass-to-liquid plants with planned output of 200,000 tons a year, Volkswagen said in a statement. maria.sheahan@thomson.com mas/wj COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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