News

Brendan Morris, who has been acting chief executive of Plantic Technologies since the departure of Grant Dow in January, is to assume the role full-time.

The Australia-based developer of cornstarch-based plastics for packaging said today (28 March) that it was "confident" the firm could achieve its "substantial potential" under his leadership.

Morris, formerly finance director and chief operating officer, joined Plantic in 2004 and played an "instrumental role" during three rounds of fundraising and the firm's May 2007 listing on the Alternative Investment Market of the London Stock Exchange. He also led the partnership negotiations with DuPont, Amcor, Bemis and National Starch.

Before he joined Plantic, Morris was chief financial officer at Basell Polyolefins' flexible film and resin business in Australia and Thailand.

Plantic warned in December that sales for 2007 would be "lower than anticipated" although it said it had entered 2008 with a "very strong" order book.

The company will announce its results for the year to 31 December 2007 on 29 April. Its share price was at 47p this morning.