Corbion will invest approximatelyUS$ 190 million in a new 125,000 metric tons lactic acid plant inThailand , operating at the highest sustainability standards and lowest costsCorbion committed to Algae Ingredients with stronger focus. Slower than expected progress triggered non-cash impairment, impacting net result by approx. € -25 million- Preliminary (unaudited) FY 2019 results exceeded most recent management guidance
- Capital Markets Day set for 9 March
We are the global market leader in lactic acid production. To further strengthen this leadership position in an attractive growth market, we have decided to build a new lactic acid plant at the existing
I am a firm believer in the potential of algae technology. The current strategic review has already led to the decision to continue to invest in Algae Ingredients. However, pushing into new territories with revolutionary new ingredients goes hand in hand with timelines to commercial success that are inherently difficult to predict. Going forward we will be more selective in our target markets, and significantly reduce our cost base of Algae Ingredients. As we indicated earlier, Algae Ingredients is developing slower than expected which required us to review the asset value, subsequently followed by an impairment.
I am pleased with the strong fourth quarter as we saw a further acceleration of organic growth. The preliminary (unaudited) FY 2019 results exceeded our most recent management guidance (
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- 20200129 PR Corbion FINAL
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