Cargill Takes Full Ownership of Bioplastic Manufacturer NatureWorks
Cargill has taken full ownership of NatureWorks, the manufacturer of Ingeo bioplastic, after Teijin decided to no longer be a part of the joint venture.
NatureWorks started in 1997 as a joint venture between Cargill and Dow Chemical, then switched to a 50-50 joint venture between Cargill and Teijin in 2007.
The companies announced that they are dissolving the joint venture on friendly terms, and that the change will not affect day-to-day operations at NatureWorks, whose Ingeo plastics and fibers are being used by more than 100 brands and retailers in the U.S., Europe and Asia to make a wide range of packaging, bed sheets, pillows, cleaning wipes and more.
Teijin recently announced a broad restructuring of its business operations, deciding to focus on its own green chemistry initiatives, particularly its Biofront heat-resistant polylactic acid (PLA) bioplastic.
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