Teijin is to acquire 50% ownership of NatureWorks LLC, manufacturer of NatureWorks® biopolymer, derived from 100% renewable resources. This acquisition is subject to regulatory approvals. The acquisition follows NatureWorks' plan of capacity expansion at its US based polylactic acid (PLA) plant. Along with Teijin, the company will expedite NatureWorks' global sales growth and facilitate product expansion in its broad plastics and fibers markets.
The company plans to increase production at its Blair, Nebraska facility and consider additional expansion in the fast-growing global marketplace. In this scenario, Teijin's downstream application knowledge in fibers, films and plastic compounds will be of immeasurable value. NatureWorks will also benefit from Teijin's expertise in technology and end-use application development.
Since 2005, NatureWorks has recorded three digit volume growth, with more than 100 leading brands & retailers in the US, Europe and Asia currently showcasing product innovations in flexible & rigid fresh food packaging, durable consumer articles, beverage packaging, apparel, home textile, personal care and hygiene applications marketed under the Ingeo brand.