Construction firm invests in bioplastics maker Meredian

By Frank Esposito
Senior Staff Reporter

Published: August 15, 2014 10:22 am ET
Updated: August 15, 2014 10:27 am ET

Image By: Meredian Inc.

Related to this story

Topics Sustainability, Materials, Materials Suppliers

Bioplastics maker Meredian Inc. didn’t have to go far to find a new investor.

That investor is Perry-McCall Construction Inc., the Jacksonville, Fla.-based construction firm that’s also the builder of Meredian’s $70 million PHA bioresin plant in Bainbridge, Ga. The amount of Perry-McCall’s investment in Bainbridge-based Meredian wasn’t included in an Aug. 13 news release.

“We are extremely excited about the project, because [Meredian] has found a way to clean up landfills,” Perry-McCall co-founder Wayne McCall said in the release. “While it takes 500 to 1,000 years for petroleum to break down, these bioplastics only take five to six weeks.”

“The environmental and economic impacts are huge,” he added. “And for us being design contractors, the product Meredian produces can develop more business for us.”

Meredian-brand PHA is based on oils from soybeans, cottonseed or corn. The resins can be used in films, extrusion coatings, bottles and other rigid packaging.

The investment comes less than two months after Meredian officials said the firm was working with investment bank Piper Jaffray to find additional investors. In late July, Meredian merged with its sister firm, Danimer Scientific. Danimer in 2007 had purchased the PHA technology used by Meredian from consumer products giant Procter & Gamble Co.


Comments

Construction firm invests in bioplastics maker Meredian

By Frank Esposito
Senior Staff Reporter

Published: August 15, 2014 10:22 am ET
Updated: August 15, 2014 10:27 am ET

Post Your Comments


Back to story


More stories

Image

Akro-Plastic buying German subsidiary from Metabolix

October 24, 2014 3:32 pm ET

Akro-Plastic GmbH, a Niederzissen, Germany-based plastic compounder, has purchased the assets of Metabolix Inc.'s subsidiary in Germany.    More

Image

German export sales strong, push for energy savings continues

October 24, 2014 12:34 pm ET

Germany is the engine that drives the European economy — and when it comes to the plastics industry, German machinery is a potent force, an...    More

Image

BASF pre-tax earnings rise, but will miss financial targets for 2015

October 24, 2014 10:16 am ET

BASF SE has raised its expectations for pre-tax earnings in 2014 but warned that it would not hit its financial targets for next year.    More

Image

Sabic, Shell cancel expansion for SADAF joint venture in Saudi Arabia

October 24, 2014 9:19 am ET

Saudi Basic Industries Corp. and Royal Dutch Shell have cancelled plans to expand an existing petrochemical joint venture in Saudi Arabia following...    More

Image

Sadara CEO says Middle East now has 20 percent of global ethylene capacity

October 24, 2014 9:33 am ET

Sadara CEO Ziad Al-Labban claims that the Middle East's ethylene capacity is now 20 percent of global production.    More

Market Reports

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

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

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

More Events