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Cargill Buys Out Dow in Joint Venture
NEW YORK - Jan 20/05 - SNS -- Cargill Inc. is assuming full control of Cargill Dow LLC, buying out The Dow Chemical Company's 50% interest in the venture, created in 1997 to commercialize polylactic acid biopolymers
Terms were not disclosed. The transaction is subject to regulatory approval in Europe.
Cargill is the original inventor of polylactic acid (PLA), a polymer derived from natural plant sugars and marketed by the joint venture as NatureWorks® PLA and Ingeo™ fibers. NatureWorks PLA is used in a broad range of packaging applications for companies seeking plastics made from an annually renewable resource. Ingeo fibers are used in fiberfill applications including pillows, comforters, mattress pads, blankets and apparel.
The business employs 230 people in Minnetonka, Minn. and Blair, Neb.
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