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Compostable bioplastics supplier Novamont boosts European presence with BioBag acquisition

January 19/2021

MOSCOW (MRC) -- In a move designed to expand its distribution area, Italian compostable bioplastics supplier Novamont has acquired BioBag Group, a Norway-based supplier of low-impact solutions for waste collection and packaging, said Canplastics.

The financial terms of the deal have not been disclosed. Both companies have worked together for more than two decades, and Novamont expects the acquisition to increase its geographic reach to areas where it is less present.

BioBag has developed a growing eCommerce platform, which is an important market channel for their existing applications and for the expanded product range that will be derived from Novamonts innovations and upstream integration.

This agreement allows Novamont to expand its model of circular bioeconomy, Novamont CEO Catia Bastioli said in a Jan. 12 statement. 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."

As MRC informed earlier, Mater-Bi, a company wholly controlled by the Novamont group, is a manufacturer of ORIGOBI, biopolyesters with a high level of renewables, components of MATER-BI compostable bioplastics. The plant has been built to manufacture PET by reconversion of the former Mossi & Ghisolfi plant. The renovation included regeneration, modification and in some cases wholly renewal of its various sections to implement innovative technologies developed by Novamont in the form of a continuous process.

As per MRC's ScanPlast, Russia's estimated PET consumption reached 61,110 tonnes in November 2020, up by 1%  year on year. Overall PET consumption in Russia reached 648,110 tonnes in the first eleven months of 2020, down by 18% year of year.

Headquartered in Novara, near Milan, Novamont has commercial offices in Germany, France, Spain, and the U.S., and operates through its own distributors in 40 countries.
Author:Anna Larionova
Tags:bioplastics, PET-granulate, PET bottles, PET films, PET preforms.
Category:General News
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