Corbion invests in food preservation and lactic acid plant
Corbion is to increase investments in key growth areas like natural food preservation and lactic acid, while at the same time reducing the breadth of its portfolio, as it looks for growth over the next five years.
With the purpose ‘Championing preservation in all its forms: preserving food and food production, health, and the planet’, the business said sustainability will become even more important in all of its decision-making processes.
Olivier Rigaud, CEO of Corbion, said in food, Corbion has developed increasingly from an ingredients business into a solutions business.
“We plan to expand on this solutions model with natural food preservation and functional systems as our core capabilities, enabling us to accelerate growth in close adjacencies,” Rigaud said.
Corbion said its business and reporting structure will have three business units from now on:
- Sustainable Food Solutions: Sustainable Food Solutions will consist of three segments: Preservation, Functional systems, and Single Ingredients. In the Preservation segment, it intends to expand (natural) preservation solutions from meat into other markets. In the Functional systems segment, it will focus on natural/clean label solutions in bakery and other markets. Emulsifiers will have a declining strategic fit going forward and will be managed for value. Other non-core activities such as co-packing blending, and frozen dough will be exited.
- Lactic Acid & Specialties: Lactic Acid & Specialties will consist of five segments: Lactic acid (including for PLA), lactates, lactate esters, biopolymers and other. Lactic acid serving the PLA market is already driving substantial investments in our lactic acid infrastructure. By 2023 Corbion expects to open a new 125kTpa lactic acid plant in Thailand.
- Incubator: Corbion will develop larger, early-stage investments in the Incubator. The three main product categories are: Algae-based Omega-3, starting with fish feed applications, algae proteins (in cooperation with Nestlé), and our new co-polymer platform.