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Novamont buys majority of biobased polyester firm

6:02 AM MDT | March 14, 2014

Novamont (Novara, Italy) has acquired a 78% stake in Mater-Biopolymer (Patrica, Italy), a unit of Mossi & Ghisolfi (M&G; Tortona, Italy), Novamont says. Novamont, under the terms of the agreement, has an option to acquire the remaining stake in Mater-Biopolymer by the end of 2016. Mater-Biopolymer’s plant at Patrica will, under the terms of the acquisition agreement, operate exclusively for Novamont and M&G, with one line producing polyethylene terephthalate (PET) and another—modified over the past four years using proprietary Novamont...

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