Corbion and Total to build first world-scale PLA plant in Europe
Corbion and Total today announced their intention to build a new PLA bioplastics plant in Europe through their Total Corbion PLA joint venture. The plant is expected to have a capacity of 100,000 tons per annum, being the first world-scale PLA production facility in Europe. The new plant is planned to be located in Grandpuits, France and to be operational in 2024.
Olivier Rigaud, CEO of Corbion is delighted with the development of the joint venture and the market for PLA: “This is excellent news for Corbion, Total, our joint venture, and for the world. Fully in line with our purpose ‘Preserving what matters’, PLA is increasingly finding its place as a bioplastic, enabling acceleration towards a circular economy. In our recently released Advance 2025 strategy one of our goals is, together with Total, to become the market leader in PLA. This new plant puts us firmly on track to achieve that goal.”
“We are very pleased to announce this second PLA plant project located in Grandpuits, France on Total’s new “Zero petrol platform”, strengthening our successful partnership with Corbion. This is fully in line with Total’s strategy to innovate and grow in circular economy solutions. Bioplastics are a great complement to meet the rising demand for polymers while contributing towards reducing end-of-life concerns”, says Bernard Pinatel, President Refining & Chemicals at Total.
The plant construction is expected to require capital expenditures of approximately €200 million. Corbion and Total will participate equally in the funding of the project; third party debt may also be part of the financing. This event also triggers a final settlement related to the Total Corbion PLA joint venture lactide plant*.
Corbion will continue to be the supplier of lactic acid to the Total Corbion PLA joint venture. Corbion earlier this year announced it will build a new lactic acid plant with the latest low emission technology in Thailand, expected to be operational in 2023. This PLA investment accelerates further expansion plans for lactic acid, with a European location as one of the likely options.
*In the 2020 financial statements, Corbion will recognize an incidental positive contribution on net result of US$ 8 million (US$ 15 million on EBITDA) related to the remeasurement of the purchase price of the subsidiary Total Corbion PLA (Thailand) Limited to the joint venture Total Corbion PLA bv.
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
Skyharbour Signs Letter of Intent with Pitchblende Energy to Option 80% of the North Falcon Point Uranium Property22.10.2020 14:00:10 CEST | Press release
VANCOUVER, British Columbia, Oct. 22, 2020 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH)(OTCQB: SYHBF) (Frankfurt:SC1P) (the “Company”) is pleased to announce the execution of a letter of intent (the “LOI”) with Australian-registered Pitchblende Energy Pty Ltd (“Pitchblende”), which provides Pitchblende an earn-in option to acquire an 80% working interest in the North Falcon Point Uranium Project, to be renamed the Hook Lake Uranium Project (the “Property”). Skyharbour’s Uranium Project Map in the Athabasca Basin: https://skyharbourltd.com/_resources/maps/SYH-Athabasca-MapOct2020.pdf Under the LOI, and subject to completion of the acquisition of Pitchblende by ASX-listed Valor Resources Limited (ASX: VAL) (“Valor”), Pitchblende will contribute cash and exploration expenditure consideration totaling CAD $3,925,000 over a three-year period (“Project Consideration”). Of the Project Consideration, $425,000 will be in cash payments to Skyharbour as well as $3,500,000 in explora
Cargotec’s interim report January–September 2020: Performance improved from the second quarter22.10.2020 13:00:00 CEST | Press release
CARGOTEC CORPORATION, Q3 2020 INTERIM REPORT, 22 OCTOBER 2020 AT 2:00 PM EEST Cargotec’s interim report January–September 2020: Performance improved from the second quarter Orders received, sales and comparable operating profit improved from Q2/2020 but remained below the comparison periodCost savings and productivity improvements enhanced profitabilityCargotec expects its comparable operating profit for H2/2020 to increase compared to H1/2020Cargotec and Konecranes announced plans to merge on 1 October. The merger is subject to the obtaining of merger control approvals, among other items. July–September 2020 in brief: Relative profitability at the comparison period’s level Orders received decreased by 14 percent and totalled EUR 740 (858) million.Order book amounted to EUR 1,751 (31 Dec 2019: 2,089) million at the end of the period.Sales decreased by 14 percent and totalled EUR 777 (901) million.Service sales decreased by 9 percent and totalled EUR 244 (269) million.Service and softwa
Cargotec's financial information in 202122.10.2020 12:50:00 CEST | Press release
CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 22 OCTOBER 2020 AT 1:50 PM (EEST) Cargotec's financial information in 2021 Cargotec Corporation will disclose the following financial information in 2021: Financial Statements review 2020, on Thursday, 4 February 2021 Interim report January-March 2021, on Wednesday, 28 April 2021 Half year financial report January-June 2021, on Wednesday, 28 July 2021 Interim report January-September 2021, on Thursday, 28 October 2021 Cargotec's Financial Statements 2020 and Annual Report 2020 will be available at www.cargotec.com on week 8. The Annual General Meeting of Cargotec Corporation will be held on Tuesday, 23 March 2021. Shareholders, who request a certain issue belonging to the General Meeting to be included in the agenda of the Meeting, must notify the Board of Directors in writing no later than 5 January 2021 by mail: Cargotec Corporation, Board of Directors, P.O. Box 61, FI-00501 Helsinki, Finland. For further information, please contact: Hann
Correction: RESULT OF RIKSBANK REVERSED AUCTIONS SEK COVERED BONDS22.10.2020 11:31:26 CEST | Press release
RESULT OF RIKSBANK REVERSED AUCTIONS SEK COVERED BONDS Auction date2020-10-22Loan5533 Coupon1.25 %ISIN-codeSE0010442731Maturity2023-09-20 Tendered volume, SEK mln1,000 +/- 500 Volume offered, SEK mln2,000Volume bought, SEK mln1,000Number of bids3Number of accepted bids1Average yield-0.004 %Lowest accepted yield-0.004 %Highest yield-0.004 %% accepted at lowest yield 100.00 Auction date2020-10-22Loan576 Coupon1.00 %ISIN-codeSE0010049841Maturity2023-12-20 Tendered volume, SEK mln1,000 +/- 500 Volume offered, SEK mln2,500Volume bought, SEK mln1,000Number of bids7Number of accepted bids5Average yield0.021 %Lowest accepted yield0.015 %Highest yield0.026 %% accepted at lowest yield 8.00 Auction date2020-10-22Loan1587 Coupon1.50 %ISIN-codeSE0010441303Maturity2023-06-01 Tendered volume, SEK mln1,000 +/- 500 Volume offered, SEK mln2,000Volume bought, SEK mln1,000Number of bids3Number of accepted bids2Average yield-0.032 %Lowest accepted yield-0.035 %Highest yield-0.029 %% accepted at lowest yiel
Mandalay Resources Corporation meddelar de senaste borrningsresultaten för Youle-fyndigheten vid Costerfield med viktiga punkter för utvidgningen på djupet av höghaltigt guld22.10.2020 10:25:09 CEST | Pressemelding
TORONTO, Oct. 22, 2020 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation (”Mandalay” eller ”bolaget”) (TSX: MND, OTCQB: MNDJF) är glada över att meddela om utvidgningen av höghaltigt guld till ett nytt område cirka 100 meter (”m”) under den nuvarande gruvverksamheten i Youle-fyndigheten. Viktiga punkter för Youle-borrningen De första resultaten från det nya höghaltiga guldområdet på djupet: 99,8 g/t guld och 0,2 % antimon över en sann bredd på 0,30 m i BC105;och60,3 g/t guld och 0,2 % antimon över en sann bredd på 0,24 m i BC145; och144,7 g/t guld och 0,0 % antimon över en sann bredd på 0,57 m i BC151 Fortsatt borrning norrut i Youle har gett höjdpunkter som: 84,3 g/t guld och 53,8 % antimon över en sann bredd på 0,44 m i BC116; och186,0 g/t guld och 37,4 % antimon över en sann bredd på 0,27 m i BC140; och214,0 g/t guld och 0,0% antimon över en sann bredd på 0,18 m i BC149 som är det mest djupgående hålet. OBS! En fullständig lista över viktiga kompositer vid borrning finns i tabeller
SpareBank 1 SMN: Presentation of 3rd Quarter 2020 accounts22.10.2020 10:17:52 CEST | Press release
SpareBank 1 SMN is presenting 3rd quarter 2020 financial results. Time: Friday 30 October at 08:00 AM CET Place: Webinar Please register by 28 October on the link below: http://epost.sparebank1.no/public/event/RegistrationForm/4245514073474A58427140 The presentation will be held in Norwegian by group CEO Jan-Frode Janson and CFO Kjell Fordal. We will also host a Global Investor Webinar in English on the same day at 3:15 PM CET. Please register by 28 October on the following link: http://epost.sparebank1.no/public/event/RegistrationForm/4245514076424B5F4A7740 Questions to the management in relation to both presentations can be sent to firstname.lastname@example.org. This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)