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Investment

Avantium takes over at Synvina

by Marc Reisch
February 3, 2019 | APPEARED IN VOLUME 97, ISSUE 5

 

Avantium says it has retaken full ownership of the Synvina furandicarboxylic acid (FDCA) joint venture with BASF. FDCA is used to make polyethylene furanoate, a biobased alternative to the soft-drink-bottle polymer polyethylene terephthalate. BASF decided to withdraw from the joint venture over the timing of an investment decision on an FDCA facility planned for BASF’s Antwerp, Belgium, site. Altogether, Avantium says it has paid BASF $20 million for its former partner’s equity and asset investments.

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