BioAmber Inc. and IMCD Sign European Distribution Agreement for Resins & Coatings
6/12/2013 11:00:38 AM
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MINNEAPOLIS, MN and ROTTERDAM, Netherlands, June 12, 2013 — /PRNewswire/ - BioAmber Inc. (NYSE and EURONEXT Paris: BIOA) and IMCD Group announced today that IMCD is now distributing BioAmber's biobased succinic acid (Bio-SATM) in the Benelux, France, Iberia, Germany, Poland, South East Europe, Switzerland and the United Kingdom and Ireland, targeting customers in the resins and coatings market.
Being a global leader in the sales, marketing and distribution of specialty chemicals, IMCD has a strong commitment to sustainability, with the reduction of CO2 emissions one of its top corporate priorities. IMCD has worked on supply chain excellence and emission reductions for several years, and is committed to cutting its CO2 emissions by at least 20%. IMCD Group is the first distributor to be awarded the prestigious Lean & Green award, part of the innovation program Sustainable Logistics by Connekt, an independent network of companies and authorities.
BioAmber is a leading supplier of bio-based succinic acid. BioAmber currently supplies Bio-SATM from a production facility in Pomacle, France and plans to expand capacity in 2014 with a 30,000 MT capacity plant in Sarnia, Canada. Made from renewable feedstock, Bio-SATM has a more favorable carbon footprint (field to gate) than petroleum succinic acid and is one of the few bio-based chemicals currently available at a commercial scale. In resins and coatings applications, BioAmber Bio-SATM enables formulation flexibility and the opportunity to develop tailored properties that offer performance in more sustainable solutions.
"We are delighted to partner with Bio-Amber for this leading and exciting new generation product," said Michèle Bouchard, Business Group Industrial Synthesis Director at IMCD Group. "Bio-SATM further strengthens IMCD's offering in the renewable resources based chemistry for production of more sustainable polymers. We are currently experiencing a growing demand for sustainable products and we believe BioAmber Bio-SATM will help us meet this growing demand," she added.
"We believe IMCD's strong market access, logistics, technical expertise and application development capability will help accelerate our Bio-SATM sales in the European resins and coatings market. IMCD's commitment to sustainability is aligned with BioAmber's renewable chemicals and we are pleased to be working with them to meet the growing need for more sustainable resins and coatings in Europe," said Babette Pettersen, BioAmber's Chief Commercial Officer.
About BioAmber Inc. BioAmber is a sustainable chemicals company. Its proprietary technology platform combines industrial biotechnology and chemical catalysis to convert renewable feedstock into chemicals for use in a wide variety of everyday products including plastics, resins, food additives and personal care products. For more information about BioAmber visit www.bio-amber.com
About IMCD Group. With a passion for excellence, extensive industry knowledge and a commitment to creating value through expertise, IMCD is a market-leader in the sales, marketing and distribution of speciality chemicals and food ingredients. Its dedicated local experts provide market-focused solutions across Europe, Africa and Asia-Pacific, with business units offering a range of comprehensive product portfolios, including innovative formulations that embrace industry trends. Currently turning over €1.4 billion, IMCD has built a dedicated team of 1250 technical and commercial experts that work in close partnership to tailor best in class solutions for customers and producers across 39 countries.
To find out more about IMCD Group, please visit www.imcdgroup.com
Forward-Looking Statements This press release contains forward-looking statements, which are subject to substantial risks, uncertainties and assumptions. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "seek," "will," "may" or similar expressions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur and the timing of events and circumstances and actual results could differ materially from those projected in the forward- looking statements. Accordingly, you should not place undue reliance on these forward-looking statements. All such statements speak only as of the date made, and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE BioAmber Inc.
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