Corbion nv announces the acquisition of the lactic acid business of Archer Daniels Midland (ADM), a Delaware corporation, effective March 31 2015.
ADM has attractive positions in the North American lactic acid market. The acquisition will further strengthen Corbion’s position in this market.
This transaction includes the sales and delivery of lactic acid, sodium lactate, and potassium lactate products. No production facilities or personnel will be acquired. Production can be absorbed in existing Corbion production facilities.
Corbion has acquired the lactic acid business for an undisclosed amount and this amount will be paid in cash.
Jeroen van Harten
Director Investor Relations
T +31 (0)20 5906293
M +31(0)6 21 577 086
Corbion: biobased solutions, designed by science, powered by nature, and delivered through dedication.
Corbion is the global market leader in lactic acid, lactic acid derivatives and lactides, and a leading company in functional blends containing enzymes, emulsifiers, minerals and vitamins. The company delivers high performance biobased products made from renewable resources and applied in global markets such as bakery, meat, pharmaceuticals and medical devices, home and personal care, packaging, automotive, coatings and adhesives. Its products have a differentiating functionality in all kinds of consumer products worldwide. In 2014, Corbion generated annual sales of €770.1 million and had a workforce of 1,893 employees. Corbion is listed on NYSE Euronext Amsterdam.