Biopolymer Packaging Development Venture

Cargill, Teijin Joint Venture for NatureWorks Finalised for Business Expansion

New Joint Venture Investment and Successful Current Plant Optimisation Allow NatureWorks to Expand Product Availability

Cargill and Teijin Limited of Japan announce that all required regulatory approvals for the 50/50 NatureWorks LLC joint venture have been received. Cargill and Teijin convened their first joint NatureWorks Board meeting on November 16th, signifying the formal beginning of the alliance.

Biopolymer Food Packaging, Home Furnishings and Disposable Serviceware Developments

This new investment by Teijin, as well as successful optimisation efforts by the NatureWorks production and engineering teams in the past several months, provides for both near-term and long term expanded capacity. Having experienced a period of managed growth in 2006 and early 2007, NatureWorks is now aggressively fueling new market development in a variety of sectors ranging from fresh food packaging and disposable food serviceware to non-woven applications, apparel and home furnishings as well as durable goods. Products made with NatureWorks^® biopolymer are marketed as Ingeo™ innovations globally.

"Finalising this joint venture solidifies one more milestone for the world's first and largest commercial biopolymer manufacturer," said NatureWorks CEO Dennis McGrew. "The elegant combination of Cargill's front-end feedstock technology and access to world-class industry partners and Teijin's leadership position with polymer and fiber applications will continue to enhance our ability to support our converter customers, brand-owners and retailers as they bring responsible innovation to a broad portfolio of consumer lifestyle products.

Joint Venture Innovations

This innovation by our more than 100 commercial partners has already contributed to over 20 broad applications families being offered at retail in more than 70,000 outlets worldwide under the Ingeo ™ brand name. With this joint venture we are well poised to respond with the market, as it moves to satisfy the booming consumer desire for more responsible products."

Minneapolis and Tokyo