Total And Corbion Form JV To Produce And Market Polylactic Polymers

(RTTNews) - Total (TOT, TTA.L) and Corbion said that they have formed a 50/50 joint venture to produce and market polylactic or PLA polymers.

"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," commented Bernard Pinatel, President of Total Refining & Chemicals.

The two partners plan to build a 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 first-quarter of 2017, subject to regulatory approvals.