Frank Esposito

1 week ago | rubbernews.com | Frank Esposito

Materials firm Teknor Apex Co. has acquired the assets of bioplastics maker Danimer Scientific for $19 million out of Chapter 11 restructuring. Teknor had filed a "stalking horse" bid for Danimer on April 30 at the U.S. Bankruptcy Court in Wilmington, Del. The court approved the bid on May 20. Under terms of the deal, Teknor of Pawtucket, R.I., also will take on "certain liabilities" from Danimer.

1 week ago | plasticsnews.com | Frank Esposito

Two recent plastics materials merger and acquisition deals are going beyond the standard "Company A buys Company B" transactions. In the first sale, Teknor Apex Co. is acquiring the assets of bioplastics maker Danimer Scientific for $19 million out of Chapter 11 restructuring. Under terms of the deal, Teknor of Pawtucket, R.I., also will take on "certain liabilities" connected to Bainbridge, Ga.-based Danimer. The deal ends a breathtaking plunge for Danimer.

1 week ago | plasticsnews.com | Frank Esposito

Finnish materials firm Premix Oy has opened its first U.S. production site in Apple Creek, N.C.A grand opening event was held at the plant on June 10, attended by company executives, local officials and Leena-Kaisa Mikkola, the Finnish ambassador to the U.S. Members of three generations of Premix's founding family also were at the event.

1 week ago | plasticsnews.com | Frank Esposito

A Canadian court has issued a judgment requiring Nova Chemicals Corp. to pay Dow Inc. another C$1.6 billion (US$1.2 billion) in damages related to an ethylene feedstock unit operated by the two firms in Joffre, Alberta. The Court of King's Bench of Alberta signed the order on June 10, officials with Dow in Midland, Mich., said in a news release. The award includes interest to April 7, 2025, but excludes subsequent interest or legal costs.

1 week ago | rubbernews.com | Frank Esposito

Finding the right fit is often the first step to a successful business. That's the situation that Luke Rodgers and Thomas Fry found themselves in when they decided to buy material technology from injection molding leader Jabil Inc., where both had been employed for several years. They've now used that technology to launch their own firm, Lumas AM Polymers L.L.C. of River Falls, Wis. Lumas Polymers—a combination of the first names of its two founders—officially opened for business in April.