Sonae Arauco SA announces new partnership with EcoSynthetix Inc
MAIA, PORTUGAL, June 22, 2017 /CNW/ - Sonae Arauco SA
To meet the increasing demand of its customers, Sonae Arauco continues to deliver state of the art solutions.
To address market demand Sonae Arauco has invested in one of its plants in Portugal to be able to supply a range of non-added formaldehyde products, including MDF, utilizing best-in-class renewable bio-content materials in partnership with EcoSynthetix Inc. (TSX: ECO). EcoSynthetix is known as a successful renewable chemicals company based in Canada that produces a portfolio of commercially proven bio-based products.
Beginning with a soft launch, the cost competitive products offer the lowest achievable emissions and highest levels of renewable bio-content that are increasingly being demanded by consumers and retailers. The innovative technology that the new partner EcoSynthetix provides is being introduced into different panel types at other sites across the group.
Sonae Arauco is known to create sustainable and renewable wood-based solutions for a better life and planet, moving beyond products to offer fit for purpose solutions that improve people's lives.
"We have an industrial soul and we believe in long-lasting partnerships," says Rui Correia, CEO of Soane Arauco. "We do feel that EcoSynthetix Inc. will help us to take our clients ambitions further by offering an attractive product portfolio."
Sonae Arauco, as a leading international company in its sector, is looking forward to a strong and mutually profitable partnership.
Together with EcoSynthetix Inc. we will take wood further.
About EcoSynthetix Inc. (www.ecosynthetix.com)
EcoSynthetix offers a range of sustainable engineered biopolymers that allow customers to reduce their use of harmful materials, such as formaldehyde and styrene-based chemicals. The Company's flagship products, DuraBind™ and EcoSphere®, are used to manufacture wood composites, paper and packaging, and enable performance improvements, economic benefits and sustainability. The Company is publicly traded on the Toronto Stock Exchange (T:ECO).
About Sonae Arauco (www.sonaearauco.com)
Soane Arauco is a wood-based 50/50 Joint venture between two strong brands: Sonae Indústria and Arauco. With over 20 industrial and commercial units in 8 countries on 2 continents, and with circa 2800 employees around the globe, Sonae Arauco is one of the largest wood-based panel producers worldwide. The production capacity amounts to about 4,185 million cubic meters, and the turnover is Euro 812 million. The inspirational wood solutions are available in over 75 countries.
SOURCE EcoSynthetix Inc.
For further information: Company contact: Dagmar Grabolle, Sonae Arauco Deutschland AG, Bahnhofstr. 57, 32805 Horn-Bad Meinberg, T. +49 5234 848 223, [email protected]