Corbion Signs LOI for PLA polymerization plant

Corbion ( NL) announces that it has signed letters of intent for one-third of the volume of a 75,000 metric Tons per annum PLA polymerization plant. Corbion reaches the next milestone to enter the polylactic acid (PLA) market as set out in its “Disciplined Value Creation” strategy announced on October 30, 2014. Corbion is accelerating its thrust into the biotechnology arena, making the next step in the bioplastics value chain by becoming a PLA producer from being, so far, the global market leader in lactic acid, lactic acid derivatives and lactides.

“Over the past few months we have been in contact with a range of existing and new PLA users. These contacts have formally confirmed their strong interest to have access to a credible and reliable major 2nd source for PLA resins.” says Corbion’s CEO Tjerk de Ruiter. “These commitments were obtained from a broad range of PLA customers, operating in a variety of industries including food, packaging and fibers, located across different geographies.”

In order to further accelerate market acceptance of PLA, Corbion has already begun to test, validate and sell pre-marketing volumes of PLA. “Making these pre-marketing resins available will accelerate market acceptance of PLA and will allow Corbion to get deeper insight into the various product-market combinations. The pre-engineering is in full progress and is expected to run till the end of the year.” continues Tjerk de Ruiter.

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.

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