18 April 2012 18:33 [Source: ICIS news]
SHANGHAI (ICIS)--PTT Global Chemical’s (PTTGC) acquisition of a 50% stake in NatureWorks is in the approval process for anti-monopoly compliance and is expected to be approved as compliant by the end of April, a NatureWorks executive said on Wednesday.
US-based agribusiness major Cargill will own the remaining 50% share of NatureWorks after PTTGC’s acquisition.
NatureWorks will look into the investment and engineering details of its proposed polylactic acid (PLA) plant in Thailand after PTTGC’s investment in the company is approved, said Dan Sawyer, NatureWorks’ business director for Asia Pacific.
He spoke on the sidelines of the four-day Chinaplas exhibition in Shanghai, which ends on 21 April.
Construction of the proposed PLA plant in Thailand is likely to begin one year after PTTGC’s investment in NatureWorks is approved, said Sawyer.
The proposed plant’s capacity is likely to be 140,000 tonne/year but that is subject to change according to market requirements, he said. Cassava and sugarcane would be used as feedstock at the proposed facility, he added.
PLA resin has made inroads into new markets such as fibre and non-woven applications in Asia over the recent years, he said.
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