Total and Corbion form a JV in bioplastics
PARIS, AMSTERDAM -- Total and Corbion are joining forces to develop bioplastics by creating a 50/50 JV to produce and market polylactic polymers. The two companies plan to build a PLA polymerization plant with a capacity of 75,000 tpy at Corbion's site in Thailand that already has a lactide production unit, which will become part of the JV. Corbion will supply the lactic acid necessary for the production of the PLA and the lactide.
“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,” said 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.”
“PLA is one of the first renewable, biodegradable polymers able to compete with existing polymers,” said Tjerk de Ruiter, CEO of Corbion. “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.”
The new company will be based in the Netherlands and will launch operations in the 1st quarter of 2017, subject to regulatory approvals.
Comments