Novamont forms US subsidiary, eyes major expansion

- Last updated on GMT

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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