GALACTIC (via SERENDIP)
Belgian company that produces lactic acid. With a global market share of 20%, Galactic is the second-largest producer of lactic acid. Its shareholding is 100% Belgian.
Lactic acid, produced by sugar fermentation, is used mainly
as a food additive but also more and more in the industrial
sector as a substitute product for traditional petrochemical
products. Galactic has production units in Belgium, China
and the USA.
Despite the global crisis, Galactic has continued its growth
by increasing its market shares. Profitability has improved,
due mainly to lower production costs. The company has
made serious investments in new products with high added
value, which should begin to be marketed in 2010.
During the first nine months of the Group’s 2009-2010 financial
year, the Chinese subsidiary increased production
sharply and a sales office has been opened in Japan.
The building housing its installations in the USA has been
acquired.
Futerro (the joint venture with Total) produced its first kilos of lactide, the monomer necessary for the manufacture of the bio-renewable polymer.
Compagnie du Bois Sauvage has a 25% holding in the Serendip Company, whose sole asset is a 45% holding in Galactic.
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