Archer Daniels Midland Company and PolyOne Corporation Announce Alliance to Develop Bio-based Plasticizer Technologies
Monday September 22, 8:00 am ET
CLEVELAND, Sept. 22 /PRNewswire-FirstCall/ -- Archer Daniels Midland Company (ADM) and PolyOne Corporation today announced that they have agreed to collaborate on the development of bio-based plasticizers for use in polymer formulations.
Plasticizers are used primarily to make plastics softer and more flexible. The global plasticizer market is an $11 billion industry and is comprised mostly of petroleum-based products. The goal of this alliance is to develop and commercialize bio-based plasticizers from corns and oilseeds.
"There is clear market interest in renewable technology as an alternative to traditional petroleum-based plasticizer offerings," said Dr. Cecil Chappelow, vice president, innovation, sustainability, and chief innovation officer, PolyOne Corporation. "We are confident that PolyOne's compounding expertise and global market reach, coupled with ADM's deep knowledge of agricultural-based chemistries and manufacturing techniques, will lead to a new generation of plasticizers and compounds for our customers and for the global polymer industry."
Paul Bloom, director, Chemical Technology Strategy, ADM said, "This collaboration is an example of how ADM is working in concert with expert partners to identify opportunities to expand our product portfolio. When we find and commercialize new products from existing feedstock streams, we increase the value of our portfolio overall."
Every day, the 27,000 people of Archer Daniels Midland Company turn crops into renewable products that meet the demands of a growing world. At more than 240 processing plants, we convert corn, oilseeds, wheat and cocoa into products for food, animal feed, chemical and energy uses. We operate the world's premier crop origination and transportation network, connecting crops and markets in more than 60 countries. Our global headquarters is in Decatur, Illinois, and our net sales for the fiscal year ended June 30, 2008, were $70 billion.
About PolyOne Corporation
PolyOne Corporation, with annual revenues of more than $2.7 billion, is a premier global provider of specialized polymer materials, services and solutions. Headquartered outside of Cleveland, Ohio USA, PolyOne has operations around the world.
Source: PolyOne Corporation
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