US NatureWorks invests $807m in 'green' plastic plant

22 January 2013 10:19  [Source: ICIS news]

SINGAPORE (ICIS)--NatureWorks, the US-based polylactic acid (PLA) manufacturer is planning to build a “green” plastic plant at the cost of Thai baht (Bt) 24bn ($807m), a company official said on Tuesday.

NatureWorks Asia Pacific, a joint venture between PTTGC and Cargill Inc, "green" bio-plastic products can be developed from a number of agricultural products such as sugar, the official added.

“The company will decide later this year about the location of its second plant, but it will preferably be Thailand, given its location and raw materials,” according to a Reuters report quoting, Viboon Pungprasert, general manager at NatureWorks Asia Pacific.

In a separate statement, NatureWorks announced that it has located its first Asia-Pacific regional headquarters in Bangkok. The company also expanded its team of senior commercial, managerial and technical personnel to enhance support of Ingeo customers throughout the region and to expand its business.

“In many parts of Asia, most notably China, Korea, Japan and Taiwan, as in North America and Europe, Ingeo is already helping brand owners lower the carbon footprint of their plastic and fiber products, while giving these same companies significantly improved material price stability. The opening of our first Asian headquarters is an important move as we add support for current customers and introduce Ingeo to many more,” said Marc Verbruggen, president and CEO, NatureWorks.

($1 = Bt29.73)

By: Surinder Malhi
+65 6780 4327

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