ADM will be the majority owner of the venture and will market the plant's production of ADM's BioSAP-brand superabsorbents. The BioSAP produced at the plant will be derived from starches obtained from agricultural feedstocks. Superabsorbent polymers, or SAPs, are traditionally produced from petroleum derivatives.
"The marketplace is eager for renewable, high-performance alternatives to petroleum-based superabsorbents," says Chris Cuddy, president, ADM Sweeteners and Starches. "The participants in this joint venture have considerable experience developing, manufacturing and marketing renewable chemicals from agricultural sources, so we're optimistic about the value our collaboration will create for our customers."
"Our companies have consistently looked at ways to add value to both domestic and imported agricultural products," says B.R.L. Fernando, chairman, CIC Holdings PLC and Chemanex PLC. "This new joint venture offers us a technology platform that combines the research and development expertise of a major global agricultural processor with the available facilities and knowledge of CIC and Chemanex."