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Cargill Reassumes Full Ownership Of NatureWorks

Cargill, Minneapolis, has re-acquired full ownership of NatureWorks LLC from Teijin Ltd., Tokyo, as a result of portfolio restructuring by Teijin in the wake of the global economic crisis. NatureWorks - the Minnetonka, Minn.-based manufacturer of Ingeo™ biobased plastics and resins - had operated as a joint venture between Cargill and Teijin since October 2007, when Cargill sold Teijin a 50-percent stake in the company.

Ingeo fibers are used in apparel, home furnishings, textiles, personal care and hygiene applications.

NatureWorks CEO Marc Verbruggen says the company continues to grow. As an independent, wholly owned enterprise, the business will be able to pursue a variety of opportunities, Cargill reports.

"The green product space is ripe for investment and expansion as never before," said Paul Conway, senior vice president, Cargill. "As a green pioneer, NatureWorks is well established with a broad product and customer base [and] is increasing Ingeo production availability at its first facility and exploring possibilities for a second plant."

September/October 2009