Page 41 - Plastics News August 2021

BUSINESS NEwSUSINESS NEwS
B

Quadient Sells Packaging Solutions Business pilot plant in Rochester, New York,

To Standard Investment using its proprietary Novo22 catalyst
and intelligent process. Novomer
has more than 100 issued patents
uadient has completed the bringing more innovation to market and more than 140 patents pending.
Qpreviously announced sale of its for the benefit of our customers.” The Danimer CEO Stephen Croskrey said:
Automated Packaging Solutions (APS) Drachten production site will continue “This is an important acquisition for
business and production facility in to supply mid-range document systems Danimer that advances our strategy of
Drachten, Netherlands, to private equity solutions to Quadient while after this, providing biodegradable solutions to
firm Standard Investment. Standard Quadient plans to gradually shift its the plastics industry to help solve the
Investment acquired the business in a production to other industrial sites and global plastic waste crisis.“Paired with
suppliers. Standard Investment will take Danimer’s leadership in application
on the Drachten site’s sales, marketing, development, we will now have the
service, research and development potential to provide an even broader
(R&D) and production teams. range of products with improved
barrier properties for packaging and
other uses at a lower cost, all while
Danimer Scientific using less energy and delivering
biodegradability. “In addition, we
To Acquire Novomer expect that Novomer’s simplified

For $152M In Cash manufacturing and operational
processes will accelerate our ability
deal valued at more than €20m ($23m), to scale our production capabilities
the two companies having entered the ioplastics company Danimer and to do so at a much lower average
initial agreement in June.The divestiture BScientific has agreed to acquire capital expenditure for each pound
is in line with Quadient’s strategy to biodegradable polymer producer than we had previously forecast.”
streamline its portfolio and optimise its Novomer for $152m in cash. The deal has been approved by each
industrial presence. Following the deal, Novomer manufactures polymers company’s Board of Directors and
the company will be able to externalise and chemicals such as poly(3- is expected to be completed in the
around €14m ($16m) of the production hydroxypropionate) (p(3HP)), a type third quarter of this year, subject
costs related to its Mail-Related Solutions of polyhydroxyalkanoate (PHA), to regulatory approvals and other
business each year. Quadient CEO which can be sourced from renewable customary closing conditions. Once
Geoffrey Godet said: “The successful or non-renewable feedstocks. The the deal is completed, Novomer CEO
closing of this transaction marks another company, which employs around 20 Jeff Uhrig will continue to lead the
important step in our Back to Growth people, manufactures products in its Novomer team in coordination with
strategy. “The resizing of our industrial Danimer’s senior leadership. Mr Uhrig
footprint will help us support the will report to Mr Croskrey. Mr Uhrig
high profitability of our Mail-Related said: “We’re thrilled to join Danimer
Solutions in the future and lead to and its outstanding team, who share
significant cost optimisations over time. our commitment to the development
“We are committed to conducting our and manufacturing of biodegradable
activities in a responsible manner and I products. “Danimer is at the
am pleased that we found, in Standard forefront of the bioplastics industry
Investment, the best home to support as a premium biopolymer supplier
our talented APS and Drachten teams and we look forward to leveraging its
towards a promising future “As both valuable resources and go-to-market
our organisations advance in their new expertise to scale efficiently together
journey, at Quadient, we will strengthen and address growing global blue-chip
our focus on our high-growth solutions, customer demand for our solutions.”

40 PLASTICS NEWS AUGUST 2021 41 PLASTICS NEWS AUGUST 2021