Germany's LANXESS to invest $10m in US-based BioAmber

22 February 2012 12:59  [Source: ICIS news]

LONDON (ICIS)--Germany’s LANXESS is investing $10m (€8m) in US-based renewable chemicals company BioAmber, to strengthen its commitment to renewable raw materials, the specialty chemicals company said on Wednesday.

As part of the investment, LANXESS will receive a minority shareholding in Minnesota-based BioAmber and a seat on the board of directors, LANXESS said.

“Our investment in BioAmber shows our commitment to launching a new generation of plasticisers that meet regulatory requirements and can also score in terms of sustainability,” said Jorge Nogueira, head of LANXESS' Functional Chemicals business unit, which produces phthalate-free plasticisers.

LANXESS and BioAmber have worked together for more than two years assessing the performance and opportunities of succinate-based esters in the plasticiser market.

In October 2011, LANXESS agreed a deal with BioAmber to jointly develop succinic acid-based plasticisers.

($1 = €0.75)

For more on LANXESS visit ICIS company intelligence

By: Leigh Stringer
+44 208 652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index