Cargill-Teijin JV dissolved; NatureWorks to be fully owned by Cargill

02-Jul-09

Cargill will assume full ownership of NatureWorks LLC, as a part of Teijin Limited's general portfolio restructuring in response to the global economic downturn. NatureWorks, which was previously a 50-50 JV between Cargill and Teijin, is now an independent company wholly owned by Cargill. The Company which manufactures Ingeo™ biobased 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. "The green product space is ripe for investment and expansion as never before," said Cargill Senior Vice President Paul Conway. The company applies its proprietary technology to process natural plant sugars to make Ingeo™ biopolymer. Ingeo™ fibers and plastics are used by over 100 leading brands & 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.