16 October 2017
Itaconix plc ("Itaconix")
Società Chimica Bussi investing in additional manufacturing capacity for EurecoTM RP103 granules developed by Itaconix
Itaconix, a leading innovator in sustainable performance polymers, is pleased to announce that Società Chimica Bussi S.p.A. ("SCB") has decided to invest in facilities for the production of the new granular grade EurecoTM RP103 ("RP103"), a product developed by Itaconix and licensed to Solvay SA ("Solvay"). Solvay sold its Bussi site to SCB in 2016, including the manufacturing facility for RP103, but maintains its role of exclusive distributor of EurecoTM products worldwide, except in Italy.
SCB has already started a series of investments on the site to ensure its sustainability and growth, as well as creating synergies with its current portfolio of activities. Building on the actions initiated by Solvay and as a result of growing commercial interest, SCB has decided to support the availability of EurecoTM products in granular form and has prioritised the investment at the Bussi plant in Italy.
RP103, is based on 6-phthalimido-peroxyhexanoic acid (PAP), which is already well-known among the consumer and professional detergents markets for its effectiveness in removing stubborn stains, bleaching in compact product formulations, and the elimination of malodour, germs, bacteria and fungi on both textiles and hard surfaces.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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For further information please contact:
Itaconix |
+44 (0) 1244 283 500 |
Kevin Matthews / Rob Cridland |
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N+1 Singer |
+44 (0) 207 496 3000 |
Richard Lindley / Liz Yong (Corporate Finance) Nick Owen (Corporate Broking) |
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Hudson Sandler |
+44 (0) 207 796 4133 |
Charlie Jack / Emily Dillon |
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About Itaconix
Itaconix designs and manufactures high performance, cost effective and sustainable ingredients that are key components of products in the personal and consumer health care, homecare and industrial sectors. The Company is the world leader in developing and producing bio-based polymers from itaconic acid, combining the versatile chemistry of itaconic acid with breakthrough manufacturing economics. Itaconix is growing a portfolio of functional, sustainable ingredients that offer a compelling alternative to traditional petrochemical materials, in response to growing demand driven by the global sustainability agenda. The Company is actively building collaborative partnerships with leading industry players with the aim of accelerating market adoption of its products.
www.itaconix.com
