Cargill-Teijin JV to accelerate NatureWorks global sales
05 Oct '07
3 min read
Cargill and Teijin Limited of Japan announced a joint venture in NatureWorks LLC, maker of NatureWorks biopolymer, derived from 100 percent renewable resources.
On Oct. 1, the two companies entered into an agreement in which Teijin will acquire 50 percent ownership of NatureWorks, effective upon regulatory approvals.
The move comes as NatureWorks expands to the nameplate capacity of its U.S. polylactic acid (PLA) plant - the world's first and largest commercial scale biopolymer manufacturing facility.
Cargill and Teijin, a respected global polymer producer, will accelerate NatureWorks' global sales growth and facilitate product expansion in the broad plastics and fibers markets served by NatureWorks.
"Teijin's downstream application knowledge in fibers, films and plastic compounds will be of immeasurable value as we grow production at our Blair, Nebraska facility and consider additional expansion in the fast-growing global marketplace," said Cargill Vice Chairman Guillaume Bastiaens.
"NatureWorks will greatly benefit from Teijin's expertise in technology and end-use application development. Teaming up with Teijin will allow more brand owners, retailers and converters to address their global interest in sustainable solutions using NatureWorks biopolymer."
NatureWorks PLA biopolymers, which are showing significant market growth, represent an important future-oriented business for Teijin and its customers.
Under its commitment to developing bio-friendly chemical technology and related solutions, Teijin intends to leverage its expertise in applications for fibers, films and plastic compounds to play a key role in the development of new markets for NatureWorks biopolymer.
marketing@alchempro.com
