Biopolymer maker BioAmber raises $80 million in IPO

By Frank Esposito
Senior Staff Reporter

Published: May 17, 2013 2:27 pm ET
Updated: May 17, 2013 3:10 pm ET

Related to this story

Topics Materials, Sustainability, Materials Suppliers

MINNEAPOLIS — Sustainable chemical maker BioAmber Inc. raised $80 million in an initial public offering of its stock on May 10.

But the firm already is getting a taste of life as a public company, as its per-share stock price fell from $10 to $8 in its first five days of trading. Minneapolis-based BioAmber produces bio-based succinic acid, which is a feedstock for bio-based polybutylene succinic polymers.

BioAmber has operated a plant in Pomacle, France, since early 2010. The firm also plans to build a $125 million plant with almost 70 million pounds of capacity in Sarnia, Ontario, through a joint venture with Japanese plastics and chemicals maker Mitsui & Co. Ltd. That plant is expected to open in 2014 and will be co-located with facilities operated by German materials firm Lanxess. Both Mitsui and Lanxess are investors in BioAmber.

In the first quarter of 2013, BioAmber posted sales of about $330,000, down 13 percent from the same quarter in 2012. The firm also posted a loss of $9.6 million for the quarter after losing $10.1 million in the year-ago period.


Comments

Biopolymer maker BioAmber raises $80 million in IPO

By Frank Esposito
Senior Staff Reporter

Published: May 17, 2013 2:27 pm ET
Updated: May 17, 2013 3:10 pm ET

Post Your Comments


Back to story


More stories

Image

Ferro sells another piece of its plastics business

December 19, 2014 3:33 pm ET

Ferro Corp. has sold its North American polymer additives business to a private equity firm for $154 million in cash.    More

Image

Antimicrobial polymers firm TiFiber launching pilot production in Ark.

December 19, 2014 10:58 am ET

TiFiber Inc., which makes synthetic compounds to control dangerous microorganisms, will locate a pilot production facility and its future company...    More

Image

Patel named LyondellBasell CEO

December 19, 2014 9:56 am ET

Bhavesh V. “Bob” Patel has been named CEO of Houston-based polyolefins producer LyondellBasell Industries NV, effective Jan. 12.    More

Image

Momentive to get a new name in January

December 19, 2014 9:45 am ET

Momentive Specialty Chemicals Inc. will change its name to Hexion Inc., effective Jan. 15.    More

Image

Thailand's SCG Chemicals buying Norwegian chemical firm Norner

December 19, 2014 9:11 am ET

Thailand's SCG Chemicals Co. Ltd. has announced it has acquired 51 percent of the shares in the independent petrochemical company Norner Holding AS fr...    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events