Cargill acquires full NatureWorks ownership

Cargill is to assume full ownership of NatureWorks LLC as part of Teijin Limited’s portfolio restructuring in response to the global economic downturn. Previously a 50-50 joint venture, NatureWorks is now an independent company wholly owned by Cargill.

NatureWorks, maker of Ingeo bio-based plastics and resins derived from 100 percent 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 ownership transfer will not affect day-to-day operations at NatureWorks, said Marc Verbruggen, the company’s CEO.

‘The green product space is ripe for investment and expansion as never before,’ said Cargill senior vice president Paul Conway. ‘As a green pioneer, NatureWorks is well established with a broad product and customer base. While others put up pilot plants, NatureWorks has been commercial for six years, is increasing Ingeo production availability at its first facility and exploring possibilities for a second plant. We've rounded the first turn while others are at the starting gate.’

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