12 October 2011 10:32 [Source: ICIS news]
SINGAPORE (ICIS)--Thailand’s PTT Chemical (PTTCH) said on Wednesday it has acquired a 50% stake in US-based polylactic acid maker NatureWorks from Cargill in a deal worth $150m (€110m).
US-based agribusiness major Cargill owns the remaining 50% share of NatureWorks.
“The investment in NatureWorks has been undertaken in accordance with the company’s long-term business plan,” PTTCH said in a filing to the Stock Exchange of Thailand.
“In addition, NatureWorks will provide the company with competitive advantage through its leadership in market and technology in biopolymer products,” PTTCH added.
NatureWorks runs a 140,000 tonnes/year polylactic acid (PLA) facility in ?xml:namespace>
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