Dutch firm Avantium to IPO to fund plastics from plants

 

Dutch chemical technology firm Avantium will announce an initial public offering (IPO) this week to fund production of plant-based plastics for Coca Cola bottles and Danone yoghurt cups, two people familiar with the plan told Reuters.

Avantium, which earlier tried to float in 2007, and Germany’s BASF said last week they would set up a joint venture and build a facility to produce chemical building blocks from plant-based sugars.

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