July 1, 2009

Cargill - full owner of NatureWorks

The green blog is actually on hiatus due to work deadlines and school exams but I just need to report this news about US agribusiness player Cargill buying back full ownership of bioplastic company NatureWorks from former joint owner (50%) Teijin, a Japanese chemical company.

For a brief background, NatureWorks was established in 1997 and operated as a Teijin-Cargill 50:50 joint venture since October 2007. The company produces its Ingeo biopolymer at a polylactic acid (PLA) manufacturing facility in Nebraska, with an annual capacity of 140,000 tons. NatureWorks is currently looking to build another facility outside the US.

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