Dutch food ingredients and confectionery company CSM has announced that it is now called Corbion.
The new name, together with a new strategy, mark the latest stage of its ongoing transformation, said the company, into a leading provider of bio-based products, with activities in bio-based food ingredients and bio-chemicals.
The company said that it is on track to complete the earlier announced divestment of its Bakery Supplies business to Rhône Capital early Q3 2013.
Built on the foundations of Caravan Ingredients and Purac, Corbion believes that it has a wealth of expertise in the world of bio-based food ingredients and bio-chemicals, combined with a rich history of service and innovations spanning more than a century.
In bio-based food ingredients, Corbion is claims that it is a leading player offering high value added ingredients to food companies, helping them solve their food integrity issues such as food safety, microbial spoilage, look & feel and taste & smell. Corbion says that it is especially strong in the bakery and meat sectors.
Organic growth will be driven by leveraging its leadership positions into adjacent markets, said Corbion, and will be supported by selective M&A.
In bio-chemicals, Corbion said that it is a fast-growing, innovative supplier of fermentation-derived, sustainably sourced bio-chemicals. Corbion's aim is to replace fossil-based chemicals in selected markets by offering products with similar or improved functionality, lower cost-in-use, and enhanced environmental credentials.
Accelerating growth in bio-chemicals will be underpinned by investments in innovation and developing partnerships. Corbion said that it has already reached a number of key milestones, such as the recently announced partnerships with BASF and Cargill.
"Our new name and logo signify the next phase in the development of our company,” said Gerard Hoetmer, CEO of Corbion. “We will leverage our proprietary technologies and intimate understanding of customers and consumers to further develop our market positions in bio-based products. In short, we create value for our customers through our bio-based products, designed by science, powered by nature and delivered through our dedication. This will in turn create value for our shareholders."
