Novamont to purchase 78% stake in Italy-based Mossi and Ghisolfi subsidiary Mater-Biopolymer; company may acquire remaining shares by end of 2016
March 19, 2014 (Chimie Pharma Hebdo (CBNB Abstracts)) – Novamont has signed an agreement to acquire a 78% stake in Mater-Biopolymer, a subsidiary of Mossi and Ghisolfi (M&G). It may acquire the remaining shares by the end of 2016. Mater-Biopolymer runs a facility at Patrica, Italy. The firm will continue to produce on behalf of Novamont and M&G . One of its production lines produces Origo-Bi, a range of polyesters using biomonomers provided by Novamont. A second production line will continue to produce PET for M&G until it is converted to Origo-Bi. The Patrica site could produce almost 100,000 tonnes/y of Origo-Bi polyesters.