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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  Corbion N.V    CRBN   NL0010583399

CORBION N.V

(CRBN)
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Corbion N : Total and Corbion start up new bioplastics plant in Thailand

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12/06/2018 | 03:35am EDT

Total Corbion PLA, a 50/50 joint venture between Total and Corbion, has started operations at its new bioplastics facility in Rayong, Thailand.

The Luminy PLA resins, a type of bioplastics, are successfully produced at the plant and are 100% renewable and biodegradable. Total said the bioplastics provide a valuable contribution towards the circular economy offering multiple eco-friendly waste solutions.

The new plant is expected to produce a range of Luminy PLA resins from renewable, non-GMO sugarcane supplied locally in Thailand, starting from standard PLA to innovative, high heat PLA and PDLA1 with unique properties.

The products are designed to serve the customers needs in a range of markets like packaging, consumer goods, 3D printing, fibers and automotive and are specifically optimized for extrusion, thermoforming, injection molding and fiber spinning processes.

PLA products can be mechanically or chemically recycled, or may be composted and returned to the soil as fertilizer after their life.

Total Corbion PLA CEO Stephane Dion said: The start-up of this state-of-the-art plant establishes Total Corbion PLA as a world-scale PLA bioplastic producer, ideally located to serve growing markets from Asia Pacific to Europe and the Americas.

The subsequent increase in global PLA capacity will enable manufacturers and brand owners to move into the circular economy and produce bio-based products with lower carbon footprints and multiple end of life options.

Total Corbion PLAs lactide plant has been expanded to production capacity of 100,000 tons per year.

In addition to this PLA pilot plant located on the same site with 1,000 tons per year capacity will be used for product development.

With this start-up, the global production of PLA bioplastics will increase by almost 50% to 240,000 tons per year and marks a major milestone for both the joint venture and the bioplastics market.

PLA is a fast-growing polymer market with an estimated annual growth rate of 10% to 15%.

(c) 2018 Vanguard Media Limited, Nigeria Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (€)
Sales 2019 952 M
EBIT 2019 96,1 M
Net income 2019 60,5 M
Debt 2019 251 M
Yield 2019 2,11%
P/E ratio 2019 27,16
P/E ratio 2020 19,85
EV / Sales 2019 1,97x
EV / Sales 2020 1,84x
Capitalization 1 621 M
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Number of Analysts 7
Average target price 28,8 €
Spread / Average Target 5,3%
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Tjerk de Ruiter Chief Executive Officer
Mathieu Vrijsen Chairman-Supervisory Board
Jacqueline van Lemmen Executive Vice President-Operations
Eddy van Rhede van der Kloot Chief Financial Officer
Marcel Wubbolts Chief Technology Officer
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