Total and Corbion announce 50/50 JV for a new PLA polymerization plant.
M2 EQUITYBITES-November 17, 2016-Total and Corbion announce 50/50 JV for a new PLA polymerization plant
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Total S.A (Paris: FP) (LSE: TTA) (NYSE:TOT) announced on Wednesday the forming of a joint venture with Corbion (AEX:CRBN.AS) to develop bioplastics by creating a 50/50 joint venture to produce and market polylactic (PLA) polymers.
Reportedly, the two companies 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.
This new company will be based in the Netherlands and will launch operations in the Q1 2017, subject to regulatory approvals.
According to Total, this investment is consistent with its One Total ambition of expanding in biofuels and bioplastics, in addition to its more traditional oil-based and gas-based products.
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.
Total is an integrated energy producer and provider, a leading international oil and gas company and a solar energy operator with SunPower.
Corbion is a market leader in lactic acid, lactic acid derivatives and lactides, as well as company in emulsifiers, functional enzyme blends, minerals and vitamins.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Nov 17, 2016|
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