16 November 2016
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.
PLA is a fast-growing polymer market segment,
with an estimated
average annual growth rate of 10 to 15% to 2025.
DETAILS
Total and Corbion are joining forces
to develop bioplastics
by creating a 50/50 joint venture
to produce and market polylactic (PLA) polymers.
The two partners 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.
The new company will be based in the Netherlands
and will launch operations
in the 1st quarter of 2017,
subject to regulatory approvals.
Bernard Pinatel,
President of Total Refining & Chemicals
"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,"
"Corbion's unique position in the lactic acid
and biopolymers value chain makes it
a natural choice for Total.
The joint venture will allow us to supply
an innovative material that
is 100% renewable and biodegradable
and that responds to sustainability concerns."
"PLA is one of the first renewable, biodegradable polymers
able to compete with existing polymers.
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."
Corbion contact
Analysts and investors:
Jeroen van Harten,
Director Investor Relations
+31 (0)20 590 6293, +31(0)6 21 577 086
Press:
Karin Roeleveld,
Director Corporate Communications
+31 (0)20 590 6324, +31 (0)650 576 912
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