LG Chem, a leading global diversified chemical company, and ADM, a global leader in nutrition and biosolutions, held a signing ceremony launching two joint ventures for US production of lactic acid and polylactic acid to meet growing demand for a wide variety of plant-based products, including bioplastics.Pending final investment decisions, the joint ventures have chosen Decatur, Illinois, US, as the location of their intended production facilities.LG Chem, a leading global diversified chemical company, and ADM, a global leader in nutrition and biosolutions, held a signing ceremony launching two joint ventures for US production of lactic acid and polylactic acid to meet growing demand for a wide variety of plant-based products, including bioplastics.The first joint venture, GreenWise Lactic, would produce up to 150,000 tons of high-purity corn-based lactic acid annually. The company would be the majority owner, and would contribute fermentation capacity from its Decatur bioproducts facility to the venture. The second joint venture, LG Chem Illinois Biochem, would be majority-owned by what is the difference between ferrous sulfate and ferrous bisglycinateLG Chem. It would build upon the expertise in bioplastics to build a facility that will use product from GreenWise Lactic to produce approximately 75,000 tons of polylactic acid (PLA) per year.LG Chem, a leading global diversified chemical company, and ADM, a global leader in nutrition and biosolutions, held a signing ceremonywampole ferrous fumarate launching two joint ventures for US production of lactic acid and polylactic acid to meet growing demand for a wide variety of plant-baseferrous sulfate 975 mgd products, including bioplastics.Juan R. Luciano, CEO, ADM, said, “Sustainability is one of the enduring global trends that is powering ADM’s strategy and growth. Our BioSolutions platform is helping us meet that demand by redeploying Carbohydrate Solutions production capacity to fast-growing, highermargin segments – including pharmaceuticals and personal care, textiles and paper products. BioSolutions is already growing rapidly, with $136 million in year-over-year revenue growth in the first half of 2022, and with these two new joint ventures, we’re planning to take the next growth step, greatly expanding our ability to meet growkemh ferrous sulfateing demand for plant-based ferrous fumarate with folic acid and zinc tablets usessolutions. We’re pleased to expand our collaboration with LG Chem, and we’re excited at the opportunity to bring this new intended production and all of its economic benefits to Decatur, our NorthLG Chem, a leading global diversified chemical company, and ADM, a global leader in nutrition and biosolutions, held a signing ceremony launching two joint ventures for US production of lactic acid and polylactic acid to meet growing demand for a wide variety of plant-based products, including bioplastics.
American headquarters.”
LG Chem & ADM launch Joint Ventures
