Minneapolis-based Cargill – a global producer and marketer of food, agricultural, financial and
industrial products and services – has re-acquired full ownership of NatureWorks LLC from
Tokyo-based Teijin Ltd. as a result of Teijin’s general portfolio restructuring in response to the
worldwide economic downturn. NatureWorks – the Minnetonka, Minn.-based manufacturer of Ingeo™
biobased plastics and resins derived from renewable resources – has been operating as a joint
venture between Cargill and Teijin since October 2007, when Cargill sold Teijin a 50-percent stake
in the company.
NatureWorks CEO, Marc Verbruggen, says the company – which will continue operations as before
– continues to grow. According to Cargill officials, establishing the business as an independent,
wholly owned enterprise will enable NatureWorks to pursue a variety of opportunities.
“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. 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
“Ingeo fibers are used in applications including apparel, home furnishings, textiles,
personal care and hygiene.
July 7, 2009