Novamont Buys Eastman's Eastar Bio Technology
Novamont S.p.A. and Eastman Chemical Company have announced the sale of Eastman's Eastar Bio copolyester business and technology platform to Novamont, a producer of biodegradable materials. Terms of the sale were not disclosed.
Novamont S.p.A. started its activity as a research center in 1989 and today is a market leader in the sector of bioplastics. Under the Mater-Bi trademark, Novamont offers a family of competitive materials based on renewable agricultural origin. Industrial applications covered by Mater-Bi are very broad ranging from separate collection of organic waste and composting to agriculture, hygiene, packaging, food service ware and additives for rubber.
Eastar Bio copolyester is used commercially in food service ware markets for cutlery and single-use disposable packaging, protective packaging, compost bags and organic waste bin liners. Eastman also had biodegradable development efforts in agricultural plastics, packaging and sporting goods. Eastman's specialty plastics business is part of the company's Eastman Division. Both companies are working closely to promote a smooth transition of the business and technology.
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