NatureWorks has absorbed the equity investment of Thailand's giant PTT of about 0.6 yuan per chemical industry of 150 million US dollars
Thailand will become the ideal location for the next technologically advanced Ingeo production plant
Minnesota, Minnesota, October 12, 2011/AP Asia/-- NatureWorks, the world's leading plastic manufacturer, announced today, PTT chemical, the largest chemical manufacturer in Thailand, will invest US $150million in NatureWorks. NatureWorks provides a series of Ingeo biopolymers from renewable plant resources to the global market for plastic and fiber products. The investment project of PTT chemical industry is still pending legal approval. At present, NatureWorks is wholly owned by Cargill Cargill
"the Thai government encourages investment in green chemicals, especially the bioplastics industry, which has high growth potential in the Southeast Asian market." H.E. Mr. Pichai naripthaphan, the Minister of energy of Thailand, said, "PTT chemical company has taken an important step towards the strategic goal of making Thailand a hub of green technology and environmental protection solutions in Asia by attracting the world's most advanced biopolymer companies to build factories in Thailand."
"this investment from a leading company in the chemical industry is of great significance to NatureWorks, which allows the company to continue to accelerate its growth and expand its production capacity to meet the global demand for bio based products. The investment in PTT chemical will be an important milestone in the ups and downs of Ingeo bio based plastics and fiber products as mainstream polymer products." Marc Verbruggen, President and CEO of NatureWorks, said: "PTT chemical's investment supports NatureWorks to realize Ingeo's plan to globalize production capacity by establishing a new production plant in Thailand, which facilitates the customer base in Asia, and implements our commitment to use diversified renewable raw materials. 3 we expect the new plant to be completed in 2015, and we expect to announce further details of the expansion later this year."
"this investment will strengthen the green industry growth strategy of PTT chemical group, integrate more renewable and environmental friendly materials into our material portfolio to achieve the goal of sustainable development, and provide more choices of green products to customers, so as to fulfill our long-term goal of taking Thailand as the 'driving force of sustainable development in the future'." Nuttachat charuchinda, the operation director of the downstream petrochemical business department of PTT Holdings Co., Ltd., said, "PTT group is keen to develop a world-class bioplastics industry, strive to become a global leader in 2020, and promote Thailand to become the hub of Asian biomaterial products."
"PTT chemical strengthens the leadership of NatureWorks and confirms its good record of bringing cost-effectiveness to the global market with innovative biopolymers." Mr. veerasak kositpaisal, President and CEO of PTT chemical group, said, "NatureWorks is currently the most cutting-edge manufacturer of bio based products, with the advantages of commercial mass production, competitive cost-effectiveness, and having a global customer base. Our investment in this company and its Ingeo plastic and fiber product technology platform is fully in line with our long-term green growth strategy and product diversification goals."
veerasak kositpai is not only to expand a trading platform. Mr. Sal said: "Ingeo can provide the functionality of traditional plastic and fiber products, but also reduce greenhouse gas emissions and reduce the demand for petrochemical energy, because it is made from renewable plant resources. In addition, compared with the large price fluctuations of petroleum based polymers, Ingeo itself has the advantage of price stability."
in the past few years, the annual product demand of NatureWorks has increased steadily by%. In the past two years, NatureWorks has fully opened its factory in Blair, Nebraska, doubling the supply of Ingeo
marc Verbruggen added: "the new Ingeo plant planned to be built in Thailand will become the second production base of NatureWorks."
at present, Ingeo's innovative products brought by more than 100 brands and retailers in the United States, Europe and Asia include soft and hard packaging, food tableware, consumer durables, clothing, home textiles, and personal care and hygiene products. At the cop-16 climate change conference in Cancun, Mexico in 2010, Ingeo creative Gallery showed a series of commercial low-carbon Ingeo products produced by internationally renowned brands such as avianca, Electrolux Electrolux, Henkel Henkel, NEC, Shiseido Shiseido, Stonyfield Ishihara farm and Walmart Wal Mart
natureworks is committed to meeting the needs of today's world without compromising the ability of the earth to achieve sustainable development. NatureWorks, with a current capacity of 140000 tons, is the first company to provide commercial production of a series of low-carbon footprint polymers. It uses 100% annual renewable plant resources as raw materials, and its cost and function are comparable to plastic and fiber products made from petrochemical raw materials. Compared with traditional petroleum based polymers, Ingeo, a product of NatureWorks, can significantly reduce the consumption of petrochemical energy and carbon dioxide emissions. At present, NatureWorks is wholly owned by Cargill Cargill, and the relevant investment projects are still pending legal approval
for more information, please visit the websiteThe Ingeo brand and logo are trademarks and registered trademarks of NatureWorks in the United States and other countries
about PTT Chemical Holdings Co., Ltd.
PTT Chemical Holdings Co., Ltd. is a company fully engaged in petrochemical and chemical products. It is a visionary leader and innovative enterprise in the chemical industry. PTT chemical is eager to develop a sustainable development industry based on social benefits and global environmental protection standards, so as to realize its ideal of "a leading chemical company that brings a better life through human beings and innovative technology"
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about Cargill company
Cargill company is an international producer and marketer of food, agricultural, financial and industrial products and services. It is a private enterprise, founded in 1865, with more than 131000 employees in 66 countries around the world. Cargill helps customers succeed through cooperation and innovation, and is committed to sharing its global knowledge and experience to help meet economic, environmental and social challenges
for more information, please visit the website
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