USTC acquires majority stake in CM Biomass

Denmark’s USTC has acquired a majority 60% stake in compatriot CM Biomass, the world’s largest independent wood pellet trading company. No price for the transaction has been revealed.

“We have been through a fantastic journey and are now looking into even more exciting opportunities globally. To fulfil our ambitions for CM Biomass we are pleased that we have found a perfect match with USTC and personally with Torben Østergaard Nielsen and Nina Østergaard Borris,” said Simon Rodian Christensen, owner and CEO of CM Biomass. “A family and a company that have indeed been through a development from a regional to a truly global leader in a large industry and we see many parallels to our position and the biomass industry. With all the strength, experience, and competencies from the USTC Group behind us, the future sure looks bright and exciting.”