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Throughout the process, Neste has engaged its suppliers and other stakeholders around the world to gather feedback, views, needs, and expectations.
Under the notification, the Prime Minister's Office has announced that its aggregate holding of shares and votes in Neste Corporation has decreased below the 50% threshold and is currently 49.
Following the completion of the transaction, Neste will hold 100% of the shares in Neste Jacobs Oy.
Reportedly, Marketing & Services is one of Neste Corporation's three reporting segments and it made a comparable operating profit of EUR90m in 2016.
The tankers and harbor tugs previously owned by Neste which are included in this category are nowadays Finnish-owned jointly by the National Emergency Supply Agency and the Ilmarinen Mutual Pension Insurance Company.
Neste oil Corporation (Neste Oil) is an independent oil refining and marketing company.
Neste shares rose nearly 15 per cent in early trade after the company said fourth-quarter comparable operating profit rose to 164 million euros ($222 million) from 77 million euros a year earlier, beating an average forecast of 136 million euros in a Reuters poll.
DB Schenker in Finland has been awarded a storage and distribution contract from Neste Oil, a refining and marketing company focused on low-emission, high-quality traffic fuels.
Neste Oil is responsible for the sales and marketing of the plant's output, which increases Neste Oil's total Group III base oils capacity from 250,000 metric t/a to 650,000 metric t/a.
Cooperation between Neste Oil and the carrier in the aviation biofuels area saw Lufthansa begin commercial flights using Neste Oil's NExBTL renewable aviation fuel on 15 July 2011.
The new Managing Director was the President of Chemical Process Industry business prior to joining Neste Jacobs.
Neste Oil and Albemarle have worked together for several years to develop the catalysts for the NExBTL renewable diesel process.