Novamont takes majority in Mater Bioplolymer

Novamont and Mossi & Ghisolfi (M&G) signed an agreement in which Novamont acquired from M&G 78% of the shares in Mater-Biopolymer srl - the company that controls the plant in Patrica (FR) - with an option to buy the remaining share capital by the end of 2016. 

Under the agreement, the Patrica plant, with 83 employees, will work exclusively for Novamont and M&G, with one line producing PET for M&G and another - already completely modified over the past 4 years using proprietary Novamont technology - for production of Origo-Bi, the range of polyesters obtained from monomers partially or completely from renewable sources. These polymers are used to improve the technical, economic and environmental characteristics of Mater-Bi, Novamont’s range of biodegradable and compostable bioplastics. The acquisition followed all legal procedures and took place with the full agreement of the plant’s labour union representatives. 

While the Patrica plant was known as a highly efficient establishment at a European level, it had become too small for the economies of scale of M&G’s PET production but was an ideal size for Novamont. After the necessary technological conversion, including the second production line, it will be perfectly suited to large-scale production of the Origo-Bi range of polyesters. 

Novamont has extensive experience in the field of bioplastics, and will give new impetus to the site, creating jobs and competitive barriers and enhancing existing research skills in the areas of materials, process engineering and innovation in general. The Patrica site will have the capacity for annual production of around 100,000 tonnes of a series of polyesters from the Origo-Bi range, further stimulating upstream integration of the Novamont production chain.