6 Februar 2017

Novamont buys the remaining 22% of Mater-Biopolymer

Novamont has exercised its option to acquire the remaining 22% of the share capital of Mater-Biopolymer srl

The Bioplastics firm headquartered in Novara, Northern Italy, acquired in 2014 a majority stake (78%) in the company that operates a resin plant in Lazio, Central Italy, and was a unit of PET resin maker Gruppo Mossi Ghisolfi.

The plant works making Origo-Bi, a line of renewably sourced polyesters. Origo-Bi is used to improve the characteristics of Novamont’s Mater-Bi biodegradable and compostable bioplastics. The Origio-Bi production line uses proprietary Novamont technology.

Officials said that the plant — known as the Patrica plant — had become too small for the economies of scale of MG’s PET production, but was an ideal size for Novamont.

Novamont has extensive experience in the field of bioplastics, and has given new impetus to the site, creating jobs and competitive barriers and enhancing existing research skills in the areas of materials, process engineering and innovation in general.

The Patrica plant has annual capacity of about 220 million pounds of Origo-Bi. Novamont’s biodegradable materials are used for film and foam, and in extrusion, thermoforming and injection molded products. Industrial applications for Mater-Bi are in agriculture, hygiene, organic-food packaging, food service, and as additives in rubber.

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Source: Il bioeconomista, 2017-02-02.

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