Meredian Inc. could merge
Published 9:29 am Wednesday, November 20, 2013
Paul Pereira, the executive chairman of Meredian Inc., was introduced by Dick Ivey as the speaker at this week’s Rotary club.
Pereira, an entrepreneur with connections to several international businesses, said he learned about the two Bainbridge sister companies, Danimer and Meredian, from a business partner and initially had agreed to help out for a couple of weeks a month to do whatever he could to help the companies get on a sound financial basis.
He said it was never his intention to move here, but found himself so intrigued with the research foundation that had been established and the immense potential he could see, that in order to do the right thing he knew he would have to be here fulltime.
He moved his family from South Beach Miami, Fla. to Bainbridge three months ago, rolled up his sleeves and began putting to work his educational background in chemistry and engineering while utilizing his business expertise.
Pereira said he believes the two companies, which he expects to merge into one corporation in January provided all stockholders approve, is sitting on unbelievable global innovation.
He praised the innovational research the companies have been doing for the past few years; but understood immediately that they had to go forward from the research and development stage and transfer into marketing a product in order to make money. “I saw the gap that was there and was eager to develop it, putting the corporate infrastructure in place to make it a fiscally responsible company,” he explained.
Pereira went on to describe what has been accomplished in three short months.
He predicts Danimer will turn a profit by the end of the year and projects it will double over the next six months.
He referenced the plastic coating made by Danimer for use inside paper cups that has been undergoing testing with major cup manufacturers, and also of the bio-degradable glue process currently being tested with Henkel, which he said is the largest producer of glues and adhesives in the United States. Danimer is working with Henkel to make two bio-degradable glues that should cover all their customer requirements rather than Henkel producing 200 different kinds of petroleum based glues.
The biggest change he is helping accomplish in the business plan is to take the innovation that has been created and sell that product up to the market entry level, then license the technology to other companies who produce the actual product.
This eliminates Danimer and Meredian from having to make more capital equipment purchases and invest in more buildings. It can even encourage the companies with whom they are licensed to come build plants here, closer to the technology.
They currently have signed agreements with Proctor and Gamble for making a bio-degradable detergent bottle, made from canola oil that will disintegrate in a matter of months when left on the ground, as well as a trash bag product with the same properties that even fish could eat.
They have recently signed a licensing agreement with BASF that looks very promising for future business. It involves a biodegradable plastic sheeting for agricultural ground covering.
Both Danimer and Meredian are currently in licensing agreement talks with companies from Canada, Brazil and Malaysia.
He said the plan is to build just enough as needed here to develop the technology, then let those companies who come to the table drive the development and growth.
“We are at the threshold of unbelievable opportunities,” declared Pereira, “opportunities that will put Bainbridge on the map.”