Novamont takes over Eastman biodegradable resin business
Novamont, a producer of biodegradable materials, has purchased Eastman Chemical's Eastar Bio copolyester business a...
Novamont, a producer of biodegradable materials, has purchased Eastman Chemical’s Eastar Bio copolyester business and technology platform. The Eastar Bio material is used commercially in food service ware markets for cutlery and single-use disposable packaging, protective packaging, compost bags and organic waste bin liners.
"This acquisition will permit us to widen the range of Novamont’s proprietary products and speed up the internal development of polyesters from renewable resources," says Catia Bastioli, managing director of Novamont S.p.A. (Novara, Italy).
Novamont produces resins based on renewable agricultural resources, marketed under the Mater-Bi trademark.
Eastman states that the Eastar Bio business had little synergies with other markets currently served by the company. "As such, we believe that Novamont is a better natural owner of this innovative technology," says Phil Griswold, vice president and general manager for Eastman’s specialty plastics business.