Corbion response to public statements from Inclusive Capital
Corbion, the Amsterdam-listed sustainable ingredients company dedicated to preserving what matters, specializing in lactic acid, lactic acid derivatives, food preservation solutions, functional blends, and algae ingredients, today issued the following statement regarding public statements made by Inclusive Capital Partners, L.P. (“Inclusive”):
The Supervisory Board and Management of Corbion value open dialogue with shareholders and welcome their constructive input. We have engaged, and will continue to engage, with Inclusive in a manner consistent with that approach. We remain focused on delivering long-term value to our shareholders and stakeholders, will continue to take actions to achieve that objective and will consider Inclusive’s suggestions.
As we mentioned in our Q3 Interim Management Statement, we are preparing a restructuring program to manifest itself in 2024. This program includes a full review to drive material improvements in operating expenses, capital program and working capital. Next to this we are conducting a strategic review of Corbion’s position in PLA, developing an Algae Ingredients roadmap 2025-2030 following strong growth prospects, and continuing our focus on our high growth, high value biomedical business. A broader auction process is underway to divest the non-core emulsifier business in order to maximize value.
We are looking forward to presenting our plans on 31st January 2024.
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