AMES, Iowa, May 05, 2017 (GLOBE NEWSWIRE) -- Renewable Energy Group (NASDAQ:REGI) welcomes today’s unanimous decision by the U.S. International Trade Commission (ITC) to proceed with its investigation into whether biodiesel imports from Argentina and Indonesia may harm American producers.
In a 5-0 vote, the Commission agreed to proceed with a trade petition brought by a coalition of U.S. biodiesel producers.
REG Chief Financial Officer Chad Stone, who testified before the ITC last month as part of the National Biodiesel Board Fair Trade Coalition, issued the following statement:
“Today’s unanimous vote by the ITC is a key step in stopping unfair biodiesel trade practices that significantly harm U.S. biodiesel producers and American jobs. While we welcome healthy and fair competition, we cannot ignore unfair trade practices that threaten the domestic biodiesel industry that supports tens of thousands of American jobs, promotes energy security and improves our environment.”
About Renewable Energy Group
Renewable Energy Group, Inc. (NASDAQ:REGI) is a leading provider of cleaner, lower carbon intensity products and services. We are an international producer of biomass-based diesel, a developer of renewable chemicals and are North America's largest producer of advanced biofuel. REG utilizes an integrated procurement, distribution, and logistics network to convert natural fats, oils, greases, and sugars into lower carbon intensity products. With 14 active biorefineries, a feedstock processing facility, research and development capabilities and a diverse and growing intellectual property portfolio, REG is committed to being a long-term leader in bio-based fuel and chemicals.
Note on Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to future actions involving an ongoing investigation by the ITC. These forward-looking statements are based on current expectations and assumptions, are subject to change, and actual results may differ materially. Factors that could cause actual results to differ materially include the inherent uncertainty as to how the ITC investigation will proceed and the results and timing of the investigation. All forward-looking statements are made as of the date of this press release and REG does not undertake to update any forward-looking statements based on new developments or changes in our expectations.