M&As: Evonik invests in additives firm Interface Polymers; Toyo Ink acquires Thai Eurocoat coatings firm

German chemical firm Evonik has invested in the British company Interface Polymers. This company’s Polarfin additives simplify the processing of plastics such as mixtures with PE or PP. At the same time, its technology makes it possible to recycle such plastics, thereby solving one of the biggest problems in the recycling process. Terms were not disclosed.

As a specialty chemicals company, Evonik says it is working on solutions for the circular economy at many levels. PE and PP are versatile and widely used plastics because of their low weight and durability. However, their poor compatibility with other materials is a drawback. So far, costly and time-consuming surface preparation was the only solution.

The Polarfin additive technology developed by Interface Polymers makes such preparation unnecessary. Moreover, it greatly reduces the amount of additives needed. As a result, mixed plastics are easier to recycle.

Bernhard Mohr, head of Venture Capital at Evonik: “Many modern applications would be unthinkable without plastics, but recycling them is still a big challenge. Interface Polymers’ additive technology offers a solution and is an excellent fit with Evonik’s Circular Plastics Program.”

The Sustainability Tech Fund launched by Evonik in 2022 is adding Interface Polymers to its investment portfolio. In this way, the Evonik Group is strengthening its technological expertise to realise its sustainability goals.

In addition to the investment by the Sustainability Tech Fund, Evonik’s Coating Additives business line has agreed an extensive development partnership with Interface Polymers with the aim of using its technology in paints and coatings.

Interface Polymers was established in 2016 to commercialise inventions made in the Department of Chemistry at the University of Warwick in Coventry (UK). A core competency of this company is the use of its Polarfin technology to make the surface of polyolefins compatible with other materials.

Diblock copolymers combine PE and PP with polar materials to improve their compatibility with metals, ceramics, and other plastics. This offers advantages in recycling of mixed plastics, adhesion of paints inks and glues to plastic surfaces, and dispersion of materials within moulded plastics.

In other news, Toyo Ink SC Holdings Co., the Japan-based parent company of the specialty chemicals company Toyo Ink Group, says that it and its consolidated subsidiary Toyo Ink (Thailand) Co.. concluded a share purchase agreement to wholly acquire Thai Eurocoat Ltd, a manufacturer of external coatings for non-printed cans in the Thai canned food market.

Following the transfer of shares, Thai Eurocoat, which is based in Samut Sakhon province, will retain its name and operate as a business unit of Bangkok-based Toyo Ink Thailand. Through the acquisition, the Toyo Ink Group will expand its regional business operations with the aim of becoming a top metal coatings supplier in the ASEAN canned food market.

Metal cans have long been used as food and beverage containers as they are highly airtight and durable for long-term storage and transportation. Can coatings are applied to the interiors and exteriors of steel and aluminum cans to preserve the quality of packaged food, beverage or other product, and to protect the metal surface appearance and integrity against abrasion.

In recent years, metal packaging has been garnering greater attention as global demand for processed foods has been strong stemming from rising populations and incomes, and a renewed focus on metal packaging due to their recyclability. As a result of these trends, the global canned food market is expected to grow by more than 130% by 2026 compared to 2020. To meet with the increase in future demand, the Toyo Ink Group aims to leverage its own technological strengths with the product commercialisation capability of Thai Eurocoat.

Jun Mikoshiba, President of Toyo Ink Thailand said, “The group has been operating in Thailand since 1971 and began the local production of can coatings in 1988 with the establishment of Toyo Ink Thailand. Over the years, we’ve expanded our business by taking advantage of our ability to develop advanced resins, mainly for can coatings that require high functionality. Thai Eurocoat is expected to complement these operations and to expand our business throughout the ASEAN region.”

(PRA)

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