Corbion has over 80 years of experience in fermentation and downstream processing, is the global market leader in lactic acid, lactic acid derivatives and lactides, and a leading company in functional blends containing enzymes, emulsifiers, minerals and vitamins. The company delivers high performance biobased products made from renewable resources and applied in global markets such as bakery, meat, pharmaceuticals and medical devices, home and personal care, packaging, automotive, coatings and adhesives. Its products have a differentiating functionality in all kinds of consumer products worldwide.<\/p>\n
In 2014, Corbion generated annual sales of \u20ac770.1 million and had a workforce of 1,893 employees.<\/p>\n
Last fall, Corbion re-aimed itself with the launch of its 2015-18 \u201cDisciplined Value Creation\u201d strategy.<\/p>\n
The company said it would strengthen its core biobased ingredients unit with differentiated market strategies and portfolio choices and a \u201cStreamline\u201d program to align the organization to these portfolio choices, simplify its business processes, and optimize the manufacturing footprint.<\/p>\n
With its updated strategy, the company has set targets as follows:<\/p>\n
Biobased Ingredients: Net sales growth CAGR of 2-4% (1-3% in Food, 5-8% in Biochemicals), EBITDA margin >18% in 2018, while maintaining ROCE > 15% throughout the period. Recurring capex is expected to be on average EUR 35 million per annum.
\nBiobased Innovations: negative impact on EBITDA not to materially increase from current levels (EUR -\/- 14 million in 2013). Business plans at maturity are required to deliver EBITDA margin of >18% and ROCE of >15%. Recurring capex, excluding large commercial-scale plant investments, is expected to be on average EUR 20 million per annum.
\nIn debuting the new direction, CEO Tjerk de Ruiter said \u201cIn its core, Corbion is a strong biobased ingredients company in food and biochemicals. At the same time, we will build new business platforms in biotechnology based on our lactic acid expertise.\u201d<\/p>\n
The Biobased Innovations business unit will consist of its PLA\/lactide business, succinic acid joint venture with BASF (Succinity), gypsum-free fermentation technology, fermentations based on 2nd generation biomass, and other longer-term development projects. This unit will drive for growth via a disciplined stage-gate investment approach.<\/p>\n
The company said \u201cthere is an attractive demand outlook for PLA, albeit at a lower growth pace than previously assumed,\u201d and said it would transition from being a lactide provider to a PLA producer and invest in a 75 kTpa PLA plant (estimated EUR 60 million capex) in Thailand. The company said it would proceed only if securing one-third of plant capacity in up-front offtake contracts \u2014 which it achieved early in 2015.\u00a0 The company also acquired Archer Daniels Midland\u2019s lactic acid business on March 31.
\nDe Ruiter commented: \u201cOur updated strategy addresses the global megatrends of resource depletion, population growth and food security. With our 80 years of experience and knowledge in lactic acid fermentation, protected by IP and proprietary knowledge, we are well positioned to alleviate the impact of these trends with our biobased solutions. Corbion will accelerate its thrust into the biotechnology arena, making the next step in the bioplastics value chain by becoming a PLA producer. With entry into PLA, Corbion will bring new biodegradable solutions to the plastic market.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Corbion has over 80 years of experience in fermentation and downstream processing, is the global market leader in lactic acid, lactic acid derivatives and lactides, and a leading company in functional blends containing enzymes, emulsifiers, minerals and vitamins. The company delivers high performance biobased products made from renewable resources and applied in global markets such […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","nova_meta_subtitle":"","footnotes":""},"categories":[5572],"tags":[],"supplier":[196,75,5384],"class_list":["post-27103","post","type-post","status-publish","format-standard","hentry","category-bio-based","supplier-archer-daniels-midland-company-adm","supplier-basf-se","supplier-corbion"],"_links":{"self":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/27103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/comments?post=27103"}],"version-history":[{"count":0,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/27103\/revisions"}],"wp:attachment":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media?parent=27103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/categories?post=27103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/tags?post=27103"},{"taxonomy":"supplier","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/supplier?post=27103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}