Riverdale Capital (RICP) has completed the acquisition of WSPVA Bio Products International, which holds a license to develop and market Polyvinyl Alcohol (PVA) Film in North America utilizing a patented machine technology.
According to Riverdale, the PVA Film is a water-soluble, non-toxic, biodegradable and alcohol-based plastic technology.
Commercial production of the PVA Film is expected to begin during the first quarter of this year.
RICP president Carl Kruse said that the acquisition gives RICP a unique position in the green-technology arena of North America and provides an exciting platform for growth in the green-friendly clean-products markets.
"This will enable the company to either compete directly with plastic producers and/or license the technology to existing manufactures of plastic products throughout North America," Kruse said.