AMSTERDAM Reorganizing at Corbion will involve simplifying the companys structure into two business units from three business units and reducing its workforce by about 200, which will include closing a fermentation plant in Peoria, Ill. Executives gave details Jan. 31 in Amsterdam during a capital markets update for analysts and investors.
Corbion executives also gave unaudited financial results for 2023 fiscal year. The results were in line with previously announced outlooks with sales at 1.44 billion ($1.57 billion) and adjusted EBITDA at 192 million ($208 million). Audited results for the fiscal year will be released March 1.
Food, biochemicals and the polylactic acid (PLA) businesses will make up the functional ingredients and sol…
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