Cargill acquires full NatureWorks ownership from Teijin

July 1, 2009

Cargill announced it will assume full ownership of NatureWorks as part of Teijin Limited’s general portfolio restructuring in response to the global economic downturn. Previously a 50-50 joint venture, NatureWorks is now an independent company wholly owned by Cargill.

NatureWorks, maker of Ingeo biobased plastics and resins, derived from 100 percent 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. Teijin and Cargill officials indicated 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 NatureWorks. CEO Marc Verbruggen indicated the company retains strong prospects for continued growth. NatureWorks operates the only production facility of its kind with the economies of scale needed to compete with traditional oil based plastics.

Cargill officials said that establishing the business as an independent, wholly owned Cargill entity provides NatureWorks with the flexibility to pursue a wide range of opportunities.

“The green product space is ripe for investment and expansion as never before,” said Cargill Senior Vice President Paul Conway. “As a green pioneer, NatureWorks is well established with a broad product and customer base. While others put up pilot plants, NatureWorks has been commercial for six years, is increasing Ingeo production availability at its first facility and exploring possibilities for a second plant. We’ve rounded the first turn while others are at the starting gate.”

Ingeo fibers and plastics are used by over 100 leading brands and retailers in the United States, Europe and Asia. Product innovations in broad plastics applications include flexible & rigid fresh food packaging, durable consumer articles, beverage packaging, and in fibers: apparel, home textile, personal care and hygiene applications.

Sponsored Recommendations

Revolutionizing Healthcare: The Impact of Digitalization in Biopharma Innovation

Biopharma enables an entirely new level of innovation that’s simply not possible in conventional drug development. It’s an approach that can fundamentally change the way healthcare...

Navigating the Automotive Industry's Electric Future

The automotive industry is at a turning point. Bloomberg estimates that by 2040, 54% of new vehicle sales will be electric. And by 2030, we’re looking at 100% of passenger vehicles...

Unified Process Control Brings Operational Clarity

Inland Empire Utilities Agency replaces its SCADA enterprise system with the PlantPAx Distributed Control System and reduces complexity for operators

PlantPAx DCS Improves Operational Reliability

KC Water calls on R.E. Pedrotti to replace obsolete wastewater SCADA solution with a unified Modern Distributed Control System (DCS).