Total and Corbion form a Joint Venture in bioplastics
(Thomson Reuters ONE) -
Paris/Amsterdam, November 16, 2016 - Total and Corbion are joining forces to
develop bioplastics by creating a 50/50 joint venture to produce and market
polylactic (PLA) polymers. The two partners plan to build a world-class PLA
polymerization plant with a capacity of 75,000 tons per year at Corbion's site
in Thailand that already has a lactide (PLA monomer) production unit that will
become part of the joint venture. Corbion will supply the lactic acid necessary
for the production of the PLA and the lactide.
The new company will be based in the Netherlands and will launch operations in
the 1st quarter of 2017, subject to regulatory approvals.
"I'm very pleased with this joint venture, which aims to become a major player
in the growing bioplastics market. This investment is consistent with our One
Total ambition of expanding in biofuels and bioplastics, in addition to our more
traditional oil- and gas-based products," commented Bernard Pinatel, President
of Total Refining & Chemicals. "Corbion's unique position in the lactic acid and
biopolymers value chain makes it a natural choice for Total. The joint venture
will allow us to supply an innovative material that is 100% renewable and
biodegradable and that responds to sustainability concerns."
Tjerk de Ruiter, CEO of Corbion, stated: "PLA is one of the first renewable,
biodegradable polymers able to compete with existing polymers. The joint
venture, which will combine Total's technical and marketing knowledge and
leading position in polymers with Corbion's expertise in lactic acid and
biopolymers, will enable us to supply innovative products and will accelerate
market acceptance."
PLA is a biobased, biodegradable polymer obtained by fermenting renewable
resources (sugar or starch) to produce lactic acid. PLA is mainly used for food
packaging, disposable tableware and textiles, as well as in numerous other
industries such as oil and gas, electronics, automotive and 3D printing.
PLA is a fast-growing polymer market segment, with an estimated average annual
growth rate of 10 to 15% to 2025.
Pdf-version of press release:
http://hugin.info/160089/R/2057215/770723.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Corbion via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 16.11.2016 - 07:01 Uhr
Sprache: Deutsch
News-ID 507309
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"Total and Corbion form a Joint Venture in bioplastics"
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