Cargill acquires full NatureWorks ownership from Teijin

NatureWorks, maker of Ingeo bio-based plastics and resins, derived from 100 % annually renewable resources, had operated as a Cargill-Teijin joint venture since October 2007. It was the first biopolymers business with commercial scale for Teijin. According to both companies, they are dissolving the joint venture in a friendly manner and intend to maintain close relations. The ownership transfer will not affect day-to-day operations at the company.

NatureWorks operates the only production facility of its kind with the economies of scale needed to compete with traditional oil-based plastics, says the company. In addition, it is well established with a broad product and customer base. While others put up pilot plants, the company has been commercial for six years, is increasing Ingeo production availability at its first facility and exploring possibilities for a second plant.

Ingeo fibres and plastics are used by more than 100 leading brands and retailers in the USA, Europe and Asia, says NatureWorks. Product innovations in broad plastics applications include flexible and rigid fresh food packaging, durable consumer articles, beverage packaging, and in fibres: apparel, home textile, personal care and hygiene applications.

Cargill is an international provider of food, agricultural and risk management products and services and employs 160,000 people in 67 countries.