12 C
Sunday, October 1, 2023
FoodNovamont acquires BioBag to create integrated bioplastics giant

Novamont acquires BioBag to create integrated bioplastics giant

DISCLAIMER: Information and opinions reproduced in the articles are the ones of those stating them and it is their own responsibility. Publication in The European Times does not automatically means endorsement of the view, but the right to express it.

DISCLAIMER TRANSLATIONS: All articles in this site are published in English. The translated versions are done through an automated process known as neural translations. If in doubt, always refer to the original article. Thank you for understanding.

More from the author

In Norway, Italian bioplastics producer Novamont has acquired BioBag Group, a company focused on the development and distribution of compostable applications and a leading manufacturer of environmentally friendly packaging in Northern Europe. 

The deal creates the most vertically integrated group in the bioplastics industry.  Novamont is focused largely upstream and has created a supply chain of agricultural raw materials, biobased monomers, bioplastics and low-impact formulations. BioBag has a growing e-commerce platform, which is an important market channel for their existing applications and for the expanded product range that will be derived from Novamont’s innovations and upstream integration.

According to Novamont, the two companies share a “strong cultural compatibility” developed over two decades of partnership. “This agreement allows Novamont to expand its model of circular bioeconomy,” Novamont CEO Catia Bastioli says. “By joining our best skills and energies and fully integrating our supply chains we can better serve our partners upstream and downstream while further accelerating circular solutions for different market sectors and for communities pursuing our goal of producing more with less.”

The two companies plan to initiate projects that enhance separate organic waste collection and composting systems, especially in North America, the Scandinavian countries, Eastern Europe and Australia. Financial terms were not disclosed. BioBag generates about €41 million ($49.5 million) in annual revenue.

Tags: Norway, Novamont

Category: Chemicals & Materials

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -

Must read

Latest articles

- Advertisement -