Bioplastic, Company initiatives, Investments, Press Release

Bioplastics merger – Cardia Bioplastics, Stellar Films

Australia-based Cardia Bioplastics has signed a proposed merger with Stellar Films Group, which manufactures film-based packaging catering to personal care, hygiene and medical product industries with facilities in Melbourne, Australia, and Port Klang, Malaysia. Under the proposed merger, Cardia Bioplastics will acquire all of the shares and units issued in Stellar Films, and issue ordinary shares in Cardia Bioplastics to the owners of Stellar Films. It is expected that Cardia shareholders will own 42% of the merged group and the owners of Stellar Films will own 58%.

The terms sheet provides for an exclusivity period of 4 months from November 21. The companies originally partnered to produce Cardia’s Biohybrid films tailored for the global personal care and hygiene products industry. The Biohybrid film produced on Stellar Films’ proprietary cast film process, reportedly exhibits a high-performance property profile and differentiated through its unique soft touch and warm feel that is ideal for personal care product applications such as nappies/diapers, feminine or incontinence products.

About Doris de Guzman

Will Green Chemistry save the world or is it hype? Doris de Guzman examines alternative processing, new technology, R&D and other sustainability initiatives aimed at preventing pollution; replacing ingredients; and using renewable feedstocks in Green Chemistry. She has been covering the oleochemicals market for 15 years and spread her beat to inorganics, biofuels and green chemistry.

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