Bateman Litwin buys ethanol kit maker Delta-T

Dutch engineering company Bateman Litwin (AIM: BNLN.L) today announced it will acquire Virginia-based Delta-T, a leading provider of ethanol plants, for $45 million USD in cash and 11.8 million in shares.

Delta-T has been a supplier of technology to the ethanol industry for more than two decades.

Rob Swain will become CEO of Delta-T, Bateman Litwin's largest business unit.

Swain said Bateman Litwin "brings the greater resources and expertise necessary to accelerate our technological lead in major fuel-ethanol markets around the world."

All commitments, contracts, deals, and alliances with Delta-T customers and partners are to remain intact, the two companies said.

"The production of biofuels from biomass is not a passing fad," said Bibb Swain, founder and chairman of Delta-T, who is to stay on with the company

"Though we are rapidly approaching the end of the corn-to-ethanol boom, we are still working hard on new technologies to retrofit older, less-efficient plants to keep them competitive in the years ahead," he said.

Bateman Litwin N.V. is an energy EPC (engineering procurement and construction) contractor and a technology provider in the renewable energy industry.

Delta-T was founded in 1984, is headquartered in Williamsburg, Virginia and employs over 200 people.

The company has a dominant presence in the rapidly growing U.S. and Canadian ethanol refining markets.

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