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Novamont forms US subsidiary, eyes major expansion

20-Jan-2011

Novamont announced it has launched a new bioplastics company in the US as part of its strategy to expand in North America.

The Italy-based bioplastics firm said its new venture, Novamont North America, marked a “major step” in its plans to boosts its market share in the region.

“The North American composting market has grown significantly in the past decade, and is now ready to make a big step forward due to higher environmental sensitivity, and increased attention on the economics of waste diversion,” says Tony Gioffre, president of the new company based in Danbury, Connecticut.

Novamont said it planned to “make significant investments” in North America to build an integrated system of agriculture, industry and the environment – including proposals for a biorefinery.

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