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Topics Materials Mergers & Acquisitions Sustainability Materials Suppliers
Companies & Associations
Bioplastics maker Meredian Inc. is merging with its sister firm, Danimer Scientific LLC.
“We are convinced that this move will put these companies in a very strong position with revenues and profits as they move forward in the bioplastics industry,” Paul Pereira, executive chairman to both firms, said in a July 23 news release.
The move comes just a few weeks after Meredian officials said that the firm was seeking additional investors — and less than two years after the Bainbridge, Ga.-based firm opened its first commercial production plant making PHA bioresin. That material is based on oils from soybeans, cottonseed or corn.
After the merger, shareholder of both firms will hold equal shares of the new firm, which will operate as Meredian Holdings Group Inc. Danimer — also based in Bainbridge — bought the PHA technology used by Meredian from consumer products giant Procter & Gamble co. in 2007.